RBC Capital Markets: Canada's manufacturing sector to benefit from lower oil prices and C$ depreciation

Quotes from RBC Capital Markets

• The manufacturing sector is expected to be one of the biggest beneficiaries of lower oil prices and related depreciation in CAD.
  
  
• We expect that to be the case over the long run, but early warning signs suggest that the industry may actually be hurt by the sharp asset price moves initially. 
  
  
• Our expected profile for USD/CAD reflects that, as we look for new highs toward 1.34 in the coming quarters before a gradual pullback into next year.