The Globe and Mail reports in its Friday edition that Goldman Sachs currency analyst Kamakshya Trivedi sees a positive year ahead for the loonie but not in a way that many Canadians will notice. The Globe's Scott Barlow writes that the analyst expects a continuation of U.S. dollar strength against the euro and yen, and, because the loonie's value is historically correlated to greenback strength, the domestic currency will be strong relative to most non-U.S. currencies. Travel to the U.S., however, will not get cheaper for Canadians. Meanwhile, Bank of Nova Scotia strategist Hugo Ste-Marie recapped Toronto Stock Exchange third-quarter earnings with 85 per cent of stocks having reported. Mr. Ste-Marie applauded the 2.3-per-cent year-over-year gain that was the first positive result in four quarters. The strategist warned, however, that only 78 per cent of profits were in line with GAAP (generally accepted accounting principles) and that this type of earnings quality deterioration has preceded market volatility in the past.