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Scott Boyd

Currency analyst, OANDA Corp

Scott Boyd has nearly two decades' experience producing education materials and market analysis for several of Canada's leading financial institutions. Scott contributes articles to OANDA's MarketPulse FX blog examining the events that affect global currency exchange rates.

Our Loonie Runs on More Than Oil

Bank of Canada Governor Mark Carney recently rejected the notion that the Canadian dollar was nothing more than a "petro-dollar." The wealth the oil sector creates is significant, but it pales in comparison to the entire economy making the claim the loonie is merely a "petro-dollar" seem somewhat overblown.
04/30/2012 05:18 EDT

Pffft: It's Not Like We Wanted to Be #1 Anyway

With the release of the latest growth projections from the Bank of Canada and the International Monetary Fund (IMF), it appears that Canada's two-year run at the top of the G7 group of countries could be coming to an end. Both the Bank of Canada and the IMF have lowered this year's growth predictions, paving the way for - get this - America to take over the top spot.
02/10/2012 01:38 EST

2012 Outlook for Canada's Economy? Not Too Shabby.

For now, the Canadian economy appears reasonably well-positioned for the coming year. While growth will not be spectacular, the economy is still expected to continue expanding and this should be supportive of the Canadian dollar.
01/06/2012 05:17 EST

The Real Story Behind Canada's Employment Numbers

For many, the improving job growth numbers were seen as a sign that the Canadian economy was back on track despite fears that the economy was tipping back towards recession. Dig a little deeper into the numbers, however, and the headline may not be as positive as it first appears. In fact, it could be downright deceiving.
10/12/2011 09:04 EDT

Loonie Falters on Volatile Commodity Prices

In its last statement, the Bank of Canada advised that an interest rate hike later this year was likely, but this may now be on hold given the recent turn of events. Indeed, some quarters are even suggesting that the Bank of Canada may be forced to lower rates, although this seems like a long shot.
08/12/2011 11:52 EDT

Property Bubble or Just a Cooling Period?

The Canadian housing market has "lost touch with fundamentals" according to a report by research firm Capital Economics. In the report released on June 29, the authors suggest that the Canadian housin...
07/21/2011 09:54 EDT

Slowing U.S. Economy a Warning to Canada

Policymakers in Canada must hope that the elephant next door has nothing more than a case of the sniffles. Unfortunately, the diagnosis looks more serious.
06/20/2011 01:19 EDT