The miserable US$ to C$ exchange rate
- Thread starter jackyo8193
- Start date
If the CAN $ continue to drop, i will reconsider my vacations to the States for next summer.
It's not that bad yet, but i remember in the somewhat painful days of 0.65$, people were thinking twice before leaving Quebec. Most people prefered to stay within the province, it was just too damn expensive to go south, or to buy anything in American money. Yes it's good for exportations, but not that much for the regular Joe.
It's not that bad yet, but i remember in the somewhat painful days of 0.65$, people were thinking twice before leaving Quebec. Most people prefered to stay within the province, it was just too damn expensive to go south, or to buy anything in American money. Yes it's good for exportations, but not that much for the regular Joe.
My understanding is the Fed's easing is causing a flight of capital away from developing countries and even 2n world economies thus causing their economies to experience somewhat fatal stresses. Makes US securities look more attractive. Just hope that Obama doesn't screw this easing up as bad as our foreign affairs.
Smuler is correct, the rate has not been this high since the spring of 2009. when the Yankees had the worst bullpen in all of the major leagues, then blew it up and tore it down, rebuilt it, won 103 games and the World Series:
http://www.oanda.com/currency/historical-rates/
It actually seems like a long time ago now.....
I think it is amazing. It will make Canada much more attractive to investors. It will bring in more jobs. Example companies will more likely establish call centers here for customer service representative jobs and much less likely outsource to places like India as cost will be lower. It will spur the tourism industry. Etc...
Quite frankly I have not seen or benefited from a higher loonie. Corporations are very greedy and use every chance to take our money. It is not like prices of goods and services dropped instead they stuffed the money into their pockets. And they outsourced a lot of work to foreign countries thereby we lost jobs here.
Quite frankly I have not seen or benefited from a higher loonie. Corporations are very greedy and use every chance to take our money. It is not like prices of goods and services dropped instead they stuffed the money into their pockets. And they outsourced a lot of work to foreign countries thereby we lost jobs here.
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yes but a weaker loonie should, in theory, creates more jobs as investors will be looking our way to setup shops which in return should, in the long term, helps everyone as more people will have some purchasing power
in the short term, we're getting screwed. there's no way around it as we've seen over the years that companies just look at their bottom line and only think about the short term impact
yes but a weaker loonie should, in theory, creates more jobs as investors will be looking our way to setup shops which in return should, in the long term, helps everyone as more people will have some purchasing power
in the short term, we're getting screwed. there's no way around it as we've seen over the years that companies just look at their bottom line and only think about the short term impact
Obama is going hard in the SOTU speech on the economy, taking an economy baseball bat to the skulls of conservatives. You can hear the cracking of those skulls as loudly as you can see the rise of the US dollar against foreign currencies. This all goes back to the Taper announced by the Fed back in May..........the economy is turning around and we are seeing evidence of it every day with the steady climb of the CAD exchange rate to the highest it's been in over 5 years.
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The exchange rate has been fluctuating above and below 1.10 the last 2 weeks. Opened at 1.1002 this morning.
The reason is that the US dollar is stronger. The logical reasons for that strength have to do with the fiscal policies of outgoing US Federal Reserve Chairman Ben Bernanke's tapering back of bond purchases in May 2013.
The exchange rate has shot from 1.1002 this morning to 1.1065 this afternoon. This is a significant jump.
JUST KEEP THAT Amerirican $ going up, I've made close to half a million on currency exchanges in the last 12 years and its not taxable,
my theory has been that the american dollar will always remain top currency , and history has repeated itself back in 2001 I sold at 1.60,
made over 350K and back in 2009 made over 100K, now sitting quietly waiting to make over 100K if it hits 1.20, if Harper had not exploited
the oil sands in Alberta our Canadian dollar would be worth a lot less.
my theory has been that the american dollar will always remain top currency , and history has repeated itself back in 2001 I sold at 1.60,
made over 350K and back in 2009 made over 100K, now sitting quietly waiting to make over 100K if it hits 1.20, if Harper had not exploited
the oil sands in Alberta our Canadian dollar would be worth a lot less.
Exactly what I had said: ....it all comes down to Government fiscal policies.....
Closing at 1.1086 which is slightly higher than it's been in the last week. Let's hope it goes over 1.11 tomorrow!
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