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Thread: A 90¢ Loonie by 2014?

  1. #1
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    A 90¢ Loonie by 2014?

    Well, we'll see

    Bets against loonie hit record high


    TD Bank is forecasting the Canadian dollar will drop to 90 cents US by early 2014, a prediction that comes alongside reports of investors betting against the loonie in record numbers.
    Economists say falling commodity prices, lingering low interest rates and modest Canadian economic growth will push the loonie to levels not seen since 2009.

    “We have significantly revised our forecast, with the loonie hitting a low of 90 US cents in early 2014,” TD Bank said in a recent report.

    The loonie hit a high just above $1.05 US in both April and July 2011, and stayed above parity until early 2013. The dollar was trading at about 97 cents US on Tuesday.

    As the loonie moves lower, investors appear to be losing confidence in the currency, by increasing their short positions.

    Recent data from the Commodity Futures Trading Commission shows the net value of short positions against the Canadian dollar increased last week by $400 million to $7.4 billion.

    More investors are returning to the U.S. dollar, in hopes its steady economic recovery will hold. It’s one of the reasons the price of gold plunged to two-year lows last week, before recovering slightly this week to about US$1,410 an ounce.

    Economists say a pickup in the U.S. economic recovery will continue to weigh on the Canadian dollar in the next few months, alongside weakness in Canada’s market-heavy resources sector.

    “So, commodity prices are forecast to be lower; the Bank of Canada won’t be tightening policy in the near future; the Canadian economy is expected to deliver only modest growth this year – and to underperform that of the U.S. … All this augurs for a lower Canadian dollar, not to mention the fact that the loonie is overvalued as indicated by the large current account deficit and capital account surplus,” TD Bank economist Dina Ignjatovic said in a recent report.


    http://ca.finance.yahoo.com/blogs/ba...WNraW5n;_ylv=3
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  3. #3
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    The Canadian economy would be best around 70 cents. Back when it was at that level Canada had many jobs and exports were doing great, we paid a little more for goods but now our dollar is par, exports sucks and we still pay more?????
    I do not think outside the box, I do not think inside the box, I do not even know where the box is.

  4. #4
    2000 to 2002 were amazing years. Not only that back then HDH was $450 and with the great exchange rates it was a bargain. Too bad I didn't discover this hobby until mid-2004.

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    Looks like you don't travel overseas a lot Sol Tee!
    I work hard, I pay heavy taxes , I don't give a shit about canadian economy (especially when Harper is in charge) , I just want my hard earned loonie to be at his top when I travel overseas!
    Just look at all these americans looking for the opposite to get ''OUR'' escorts for cheap...

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    I travel overseas enough but make enough money to be able to afford my travels. Are you heavily taxed because you live in Quebec? Quebec and Ontario have the most to gain when the dollar is low so more jobs for them and maybe some other people can afford to travel also, but I forgot, you do not give a shit about anybody else it's all about you. As for Harper he is doing a good job, Canada pulled through the recession very well and did not rape us like the Liberals did. How many missing billions did the conservatives find in the cooked books after they took over? And if you are NDP, well no comment there. Perhaps BLOC, Bahahahaha.
    I do not think outside the box, I do not think inside the box, I do not even know where the box is.

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    Only reason why the US dollar is doing so well is the Euro and Europe is doing so bad. Europe is in depression territory. If the Euro was doing better, more money would be kept in the Euro. No other currency has enough $ or volume yet to support the demand so the US dollar is being propped up above its real worth. Now if the Canada had 200 million people and not 30 million people, the Loonie would probably be trading for more than the US $.
    So when will Hillary go to Prison?

    Only the Democrats would have a potential CONVICT as their Top Presidential Candidate. Simply Pathetic

  8. #8
    ‹^› ‹(•¿•)› ‹^› Special K's Avatar
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    Quote Originally Posted by Grosbaton View Post
    Looks like you don't travel overseas a lot Sol Tee!
    I work hard, I pay heavy taxes , I don't give a shit about canadian economy (especially when Harper is in charge) , I just want my hard earned loonie to be at his top when I travel overseas!
    Just look at all these americans looking for the opposite to get ''OUR'' escorts for cheap...
    You sound like a bitter boy Grosbaton...You should probably use some of that hard earned money and get yourself one of YOUR escorts!!
    Jules Winnfield (Samuel L. Jackson in Pulp Fiction) English, motherfu*ker, do you speak it?

    Typical Yankee fan in the Merb Sports Section!! Bwwaahh.

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    Mind you Sol Tee, when I say I don't give a shit about canadian economy it is not that I don't care about my country economy, it's just that as a tax paying individual who did not vote for Harper I can't feel responsible for what's happening at that level. Something for sure I don't think our economy should rely on a low loonie to be productive.
    Yes I am based in Québec, but I travel to work all over Canada and the US.
    And I agree, Harper is doing a great job to...give all kind of tools to Québec separatists.
    You live and work in Alberta and makes lots of money. Good for you. But looking at all your posts your seem very disappointed and even depressed not having where to spend it for your good times...
    So as a conclusion, I want a strong loonie and don't want to move (back) to Alberta where I spend some very nice years a little while ago...

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    Hey Special K, do you really want me to give you a detail list of ''our'' escorts I met! Come on this is too personnal! By the way I am seeing one in about an hour so I have to go...Me bitter! You must but joking, you should see the big smile on my face, not to mention the little guy down below!

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