Fidelity on the Canadian dollar - looking for a big fall

CAD is not getting much love, this I posted earlier (from overnight):

• "The strategic outlook for the CAD has shifted considerably to the downside"

Fidelity Investments also looking for a lower CAD:

• as the country retrenches from a consumer-spending boom into the face of a slowing global economy
• may already be in recession
• household deleveraging appears to be starting just as the global economy is slowing
• Canada's competitiveness problems remain
• You've never had debt levels as high, relative to incomes in Canada
• Canada's job market ... best start to the year since 1981 … but is a lagging indicator; hours worked have receded

(ps the link above is from overnight, as is this from Fidelity. Given its a bigger pic view I don't think that's too important).