Market indicators: Canadian dollar and border crossings

The Canadian dollar is at a five-year low, and has been steadily declining since July. The effect of the weak loonie on Whatcom County is counteracted by low gas prices encouraging Canadian shoppers to head south.

“I imagine the decline in the Canadian dollar is hurting local retailers a bit, but lower gas prices (like a tax break) should be helping,” Hart Hodges, director at Western Washington University’s Center for Economic and Business Research, said in an email. “I’m not sure what the net effect is for most retailers.”

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