Deja vu all over again. Reminds me of late 2007-08. I switched my CD$ to U.S.at par in mid 2008 and gave up telling anyone as they all laughed their asses off at me. They said the U.S.$ would be at 50cents within months and I would lose my shirt. No point in talking to them. By Oct/08 the CD$ was down to 77 cents. Extreme sentiment is the best indicator there has ever been. Won't tell you the exact day or week or perhaps even month when the turn will come but it does answer the question of the turn. Last I heard was 94% are bullish CD$ and higher than that for bearish sentiment on DX. Just like Lucy and Charlie Brown and the football trick all over again. Funny how people never learn. They always think "It will be different this time," but never is.
And how long has the Loonie ever stayed above par. Answer:Not long. Canada and the U.S. have a trading and manufacturing set up that has CD$ lower than the U.S.$ for a wide variety of reasons. Basically the U.S.buys presently over 70% of Canadian manufactured goods so keeps us busy. And the U.S. exports over 20% of all their exports to Canada. It was designed that way with a currency relationship that never was designed for a higher Canadian dollar and wont continue for long with it.