Supporting points in the linked lead article: RBC is investing billions to buy a US bank. Nine of ten top performing companies in the TSX have favoured buying abroad over expanding at home. Canadian Mutual Funds have been plowing wealth into global choices for the last six months.
"Canada’s basic balance - a combination of the capital and the current account: a measure of national accounts that spans everything from trade to financial-market flows - swung from a surplus of 4.2% of GDP to a deficit of 7.9% in the 12 months ending in June."Also from Bloomberg as quoted by FP and zerohedge.com:
"Money is flooding out of Canada at the fastest pace in the developed world as the nation’s decade-long oil boom comes to an end and little else looks ready to take the industry’s place as an economic driver."Both post the chart below from BofA Merrill Lynch Global Research.
Another factor, no fault of Canada's, is the boost the US dollar gets for being the unit of account at a time that other trade areas are handling their finances worse than the US.