Canadian National is well positioned in the midst of these challenges, as the company is arguably the strongest fundamental Class I. Still, a return to positive rail traffic growth comprehensively could take some time and not occur until some point during the first half of 2017. Through week 32, Canadian National is in last place from a total traffic perspective being down nearly 10 percent. Canadian National should benefit from a lower comparable in 2017, but a depreciating U.S. Dollar could impact performance. Both Canadian rails have witnessed stronger diluted EPS and revenue performance due to their exposure to the strong U.S. Dollar.

Source: National Post August 22, 2016 12:00 UTC