Slipping loonie could affect future NHL revenues

If the Canadian loonie continues its downward trend against the U.S. dollar, it could affect future...

If the Canadian loonie continues its downward trend against the U.S. dollar, it could affect future revenues from Canadian NHL teams. (Andre Forget/QMI Agency/Files)

CHRIS STEVENSON, QMI Agency

, Last Updated: 9:12 PM ET

Matchups are a big deal in hockey and one of that will bear watching in the next few months is the value of the Canadian dollar versus its American counterpart.

The loonie has been slipping in value against the greenback for the last few months. After basically being on par with the U.S. dollar for the last couple of years, the loonie has dropped into the 94-cent range recently.

The Canadian dollar hit $1.0707 Wednesday, its lowest value since May, 2010. It hasn't been on a par with the U.S. dollar in 10 months or so as any snowbird has been getting ready for their flight south can tell you.

Some economists are forecasting a further slide for our currency.

U.S. investment banker Goldman Sachs is predicting the Canadian dollar will fall to the 88-cent range next year.

Commodity prices are lower and concerns about the U.S. debt crisis have eased somewhat, putting downward pressure on our buck.


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