The miserable US$ to C$ exchange rate

[rollingstone]

The USD was falling against other currencies earlier. But the increase versus CAD could be due to uncertainty about NAFTA. Its how they are explaining the drop in the Peso, so might apply to CAD?

But I'll be honest as long as it keeps climbing I won't care why! Go Baby Go!

 

[Sol Tee Nutz]

Our Canadian dollar is in the tank because of our government, with our new taxes coming the profit margin will be tight and investment will stay away. At least Trump is not falling for the " Climate Change Tax " that will do nothing but screw the economy.
I predict that the " working " middle class in the US will see an improvement while the Canadians will continue to suffer until government changes.
Heading to Mexico for Christmas, plan to get a bunch of Pesos later today.

 

[IamNY]

$1.36 today!

 

[EagerBeaver]

$1.36 today!

Yowza!!!! It's the Trump surge

 

[Sol Tee Nutz]

For Canadians who need US currency.

http://www.huffingtonpost.com/stephanie-r-caudle/getting-us-dollars-for-le_b_11321638.html

 

[ssj3]

Hoping it hits $1.40 before my next trip lol

 

[transatlantic]

For Canadians who need US currency.

http://www.huffingtonpost.com/stephanie-r-caudle/getting-us-dollars-for-le_b_11321638.html

Don't know if any Canadian bank offers a no foreign transaction fee debt card. If they do and you can get to an ATM in the US, that would the best bet as there would be no commission tacked on.

It also appears Canadian have no foreign transaction credit card options (http://www.greedyrates.ca/blog/best-foreign-currency-exchange-rate/#.WDTX6uYrJPY).

Exchange rates fees briefly discussed in https://merb.cc/vbulletin/showthread.php?148638-ATM-Foreign-Transaction-Fee

 

[lgna69xxx]

The Trump Effect?

A good friend of mine told me earlier today that he went to the bank today to exchange some us dollars that he had laying around into cad and they told him at BMO that it went from 1.29 a couple days ago to 1.34 today.....The teller joked it must be the Trump effect, who knows? I doubt it but my friend sure was happy.

 

[RobertNYC]

I got back from a weekend trip to Montreal. I was a bit shocked to see how far the US$ has fallen against the CAD$ when I exchanged my currency on Peel Street. It was still a great trip but when I factor in the exchange rate (stronger CAD$), hotel and food perhaps I should have stayed in NYC/NNJ. Hope the US$ gets stronger before my next visit.

 

[cpp433]

Ya it sux, when i was there in june i got like 1.30 or 1.31 at peel, now id get 1.195, so $110 less per 1000 i bring, plus rediculous motel prices, some agencies raising rates, becoming not quite the deal it used to be. I wonder why such the collapse so fast?

 

[cpp433]

Those canada for sale days must have been great!

 

[Bred Sob]

I wonder why such the collapse so fast?

The USD/CAD rate correlates closely with the oil prices. See the chart here:

https://www.babypips.com/learn/forex/black-crack

The latest plunge of the USD/CAD rate is obviously caused by the rising oil prices due to Hurricane Harvey hitting Texas refineries.

 

[RobertNYC]

Ya it sux, when i was there in june i got like 1.30 or 1.31 at peel, now id get 1.195, so $110 less per 1000 i bring, plus rediculous motel prices, some agencies raising rates, becoming not quite the deal it used to be. I wonder why such the collapse so fast?

Great point below on correlation with US oil prices. I had a wonderful trip, but based on appointments alone, what I paid in Montreal for a 90 minute appointment is what I would have paid in North Jersey for a 60 minute appointment given exchange rate. Factor in this trip the quality wasn't much better + we all know 90 minutes in Montreal is a bit less than that when factoring in wash up time, etc. So the value just wasn't there this visit.Still a great weekend. I want to get back for a Habs game in November. Just wondering whether I shouldn't lock in on my CAD$ now. Great insights on correlation with oil prices Bred, and that takes some speculating whether to scoop up CAD$ now or to wait

 

[EagerBeaver]

I don’t know if anyone noticed but the US to CDN exchange rate has climbed a few cents to $1.28, which is the highest it has been since the Caribbean hurricanes.

 

[ssj3]

Hopefully it continues to trend towards the 1.34 it was at when I visited in May

 

[IamNY]

$1.30 today!

 

[EagerBeaver]

Also today the Fed raised interest rates again, a sign that the economy is percolating and that the US dollar will surge in its power. $1.30 is nice but let’s see if we can get it over $1.40. It’s been a while.

 

[nycbadboy128]

$1.30 is nice but let’s see if we can get it over $1.40. It’s been a while.

I hope so !

 

[IamNY]

Also today the Fed raised interest rates again, a sign that the economy is percolating and that the US dollar will surge.

Funny. No sooner did I make my post I got the same news about the Fed. Or maybe I have the ability to move the market....

 

[jalimon]

The girls should impose you US guys a 40% tariff. After the aluminum and steel tariff we could call it the pussy tariff. Perfect opposition for Trump who likes to grab them for free

Cheers,