Canadian entrepreneur Kevin O'Leary says both Canadian and foreign investors will be paying close attention to the outcome of Monday's federal election, which he says could have an immediate impact on the loonie.
The famed investor shared his ideas on what various majority and minority scenarios could mean to the Canadian economy:
'Worst outcome': NDP majority
"Investors in the U.S. and many investors in Canada don't like what they see in Alberta," , referring to that province's NDP government led by Rachel Notley.
O'Leary speculates that the Canadian dollar could see an immediate two to five cent drop the morning of a majority NDP government.
"Anytime you attack a sector like energy, which has certainly been on the mind of the NDP and Liberals, that's not good for Canadian investors or foreign investors," he said.
'Less impact': Liberal majority
O'Leary said the policies laid out by Liberal Leader Justin Trudeau will put pressure on the energy sector, but "nowhere near as bad as the NDP (policies)."
'Most stable': Conservative majority
O鈥橪eary said investors have liked Conservative policies around energy and pipeline development.
"More pressure to open up all pipelines, that gives more revenue to the Canadian government and its economy, those are policies that are investor friendly," he said.
'Really interesting': Slim minority for either Conservatives or Liberals
O'Leary said some investors like "gridlock" in the House of Commons.
"What could be surprising would be the two to three month period where you would have a rise in the Canadian dollar as a result of no government policy being implemented," he said.
