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Money Canadian Dollar Hits 10-Month Lows in March: 4 Stocks to Buy or Sell

03:31  14 march  2018
03:31  14 march  2018 Source:   fool.com

4 Stocks to Buy as the Canadian Dollar Plummets

  4 Stocks to Buy as the Canadian Dollar Plummets Companies like CAE Inc. (TSX:CAE)(NYSE:CAE) could get a boost from a plunging Canadian dollar in 2018.Today, we will look at several stocks that could gain ground as the Canadian dollar falls.

Sell : Air Canada . Air Canada posted record revenues in 2018, and customer traffic also hit all-time highs. Cascades stock has increased 10 .2% in 2018 as of close on March 12. The company boasts a sizable U.S. footprint, which bodes well for its performance, even if the Canadian dollar plunges

Sell : Air Canada . Air Canada posted record revenues in 2018, and customer traffic also hit all-time highs. Cascades stock has increased 10 .2% in 2018 as of close on March 12. The company boasts a sizable U.S. footprint, which bodes well for its performance, even if the Canadian dollar plunges

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The Canadian dollar gained strength against its U.S. counterpart as regular trading came to a close on March 12. It closed near $0.78 as oil prices dropped to start the week. The Canadian dollar faced downward pressure after President Trump announced impending steel and aluminum tariffs, but this pressure was alleviated somewhat when it was announced Canada would be exempt along with several other key allies.

Trade tensions and an increasingly dovish Bank of Canada may continue to apply downward pressure on the Canadian dollar. If that is the case, below are stocks that investors should keep an eye on as we move into spring.

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Sell : Air Canada . Air Canada posted record revenues in 2018, and customer traffic also hit all-time highs. Cascades stock has increased 10 .2% in 2018 as of close on March 12. The company boasts a sizable U.S. footprint, which bodes well for its performance, even if the Canadian dollar plunges

Low -priced energy stocks look like wild cards in this equation, with crude oil coming off lows while rising Middle East tensions add to sector buying power. Denbury Resources shares topped out at .32 in 2008 and sold off to .59 during the The stock turned sharply higher in March 2018

Buy: Sun Life Financial Inc.

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Asia shares mixed on trade outlook, tighter China oversight

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Buy your Canadian Dollars online and either get it delivered to your house (free on orders over 00) or pick it up from over 100 stores around the US. More info on Canadian dollars . The most commonly used Canadian dollar bills are the , $ 10 , , and 0 bills.

US dollar hits four -week low as risk appetite returns. TORONTO, Aug 24- The Canadian dollar strengthened against its U.S. counterpart on Friday, recovering from an earlier one-week low as oil prices rose and a speech by Federal Reserve Chairman Jerome Powell helped boost stocks and

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Sun Life Financial Inc.(TSX:SLF)(NYSE:SLF) is a Toronto-based financial services company. The bulk of its insurance sales come from the United States, and it has demonstrated impressive growth in Asian markets. With this in mind, Canadian dollar weakness could actually be a boost in 2018. In 2017, Sun Life saw the after-tax profit margin for U.S. Group Benefits grow 5% from 2016. Sun Life Asia also reported wealth sales of $3.6 billion in Q4 2017 compared to $3.1 billion in the prior year. The stock also offers a quarterly dividend of $0.46 per share, representing a 3.3% dividend yield.

Sell: Air Canada

Air Canada(TSX:AC)(TSX:AC.B) stock has climbed 5.5% in 2018 thus far. Shares are up 105% year over year. Air Canada posted record revenues in 2018, and customer traffic also hit all-time highs. Passenger traffic is expected to increase across the board in 2018, but Air Canada will be facing bigger competition from regional airlines. The reduced purchasing power of Canadian travelers could also hurt Air Canada and other airlines this year. Airliners are vulnerable during economic downturns, so investors should exercise caution as we enter the late stages of a long recovery period.

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These days, the Canadian dollar is the 5th most held reserve currency in the world and accounts for approximately 2% of all global reserves. You might hear it referred to as the loonie, because of the image of a loon bird on the one dollar coin, or as the huard in French.

USD/ CAD Overview. The Canadian dollar or the Loonie is the seventh-most-traded currency in the Forex Market. Risk took a hit in Asia this Friday, as risk-off sentiment seeped back following Thursday’s inconclusive NAFTA talks between the US and Canada and Block User. buy or sell ?

Buy: Cascades Inc.

Cascades Inc.(TSX:CAS) is a Quebec-based market packaging and tissue product company. Cascades stock has increased 10.2% in 2018 as of close on March 12. The company boasts a sizable U.S. footprint, which bodes well for its performance, even if the Canadian dollar plunges going forward.

Cascades reported a $59 million income tax gain in the fourth quarter of 2017, resulting mainly from the U.S. Tax Cuts and Jobs Act. In 2017, sales climbed 11% to $4.3 billion. The stock also offers a dividend of $0.04 per share, representing a 1% dividend yield.

Sell: Yamana Gold Inc.

Yamana Gold Inc.(TSX:YRI)(NYSE:AUY) is a Toronto-based gold producer with positions in North and South America. Yamana stock has plunged 13.7% in 2018 so far. The spot price of gold has been stagnant in 2018 and may be increasingly vulnerable to U.S. rate hikes this year. A weak U.S. dollar has failed to generate upward momentum into this year. Traditionally, rising bond yields have been bad news for the yellow metal. The U.S. economy has continued to show strength in 2018, and the Federal Reserve plans to move forward on several more rate hikes, which could generate downward pressure for gold and the Canadian dollar.

Butler still waiting for Canadian citizenship

  Butler still waiting for Canadian citizenship VANCOUVER - Arcade Fire's Win Butler says he's holding out for his Canadian citizenship. After playing a Canadian-accented version of himself on "Saturday Night Live" earlier this month, Butler says he still doesn't have an official stamp of approval from the federal government. "I'm in line for my passport," the American told reporters after members of the Montreal rock group accepted the international achievement prize at Saturday's Juno Awards After playing a Canadian-accented version of himself on "Saturday Night Live" earlier this month, Butler says he still doesn't have an official stamp of approval from the federal government.

The U.S. dollar hit its loftiest level since late last year before pulling back. The Turkish lira was taking a major hit against the dollar on Monday, hitting a fresh record low with Meanwhile, China agreed to buy more U.S. products, but without specifying a dollar amount. The Fed raised rates in March and its dot plot shows three rate increases for 2018, making Harker’s expectation rather hawkish.

Ten top Canada MoPay Dividend stocks were culled by yield for their monthly update from here. That distinction between the five low -priced dividend stocks and the general field of ten reflected Nothing contained herein shall constitute a solicitation, recommendation or endorsement to buy or

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Fool contributor Ambrose O'Callaghan has no position in any of the stocks mentioned.

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