usd$/loonie
- Thread starter cpp433
- Start date
Yes your are right the loonie has dropped in the last few days. Here is official Bank of Canada ratings:
Latest USD-CAD rates:
2013-06-21
1 USD noon
1.0387 CAD 1.0470 CAD
1 USD closing
1.0373 CAD 1.0456 CAD
1 CAD noon
0.9627 USD 0.9551 USD
1 CAD closing
0.9640 USD 0.9564 USD
What it means: if you are an american, you can come to visit Canada and pay less for any service you might require.... You get richer.
If you are a canadian. You get poorer especially if, like me, you travel and send money abroad on a regular basis.
This reminds me that former Finance Minister and Premier of Québec Jacques Parizeau once said that an independant Québec could use the US $ as its official currency. Some people thought he was crazy. But look at Panama, that's exactly what they are doing, and it works very well for them.
Latest USD-CAD rates:
2013-06-21
1 USD noon
1.0387 CAD 1.0470 CAD
1 USD closing
1.0373 CAD 1.0456 CAD
1 CAD noon
0.9627 USD 0.9551 USD
1 CAD closing
0.9640 USD 0.9564 USD
What it means: if you are an american, you can come to visit Canada and pay less for any service you might require.... You get richer.
If you are a canadian. You get poorer especially if, like me, you travel and send money abroad on a regular basis.
This reminds me that former Finance Minister and Premier of Québec Jacques Parizeau once said that an independant Québec could use the US $ as its official currency. Some people thought he was crazy. But look at Panama, that's exactly what they are doing, and it works very well for them.
The third country story is a bit false because the reason Canada has a hard currency exchange rate world wide is because it has a hard currency floating exchange rate with the USA. And the USA currency is traded big time world wide. So if the Canadian currency falls relative to the USA currency it falls with the rest of the world.
It's because we're (US) raising our interest rates from zero, eventually, or so our Federal bank says. Will continue to make the USD stronger relative to those who don't (generally). You can thank or send angry mail to Bernanke for mentioning the end of QE.
It's because Bernake announced that some day in the near future, like a year from now, if employment improves, if the US economy doesn't falter, etc., QE X (4? 5?) will be phased out. Because of this statement, and only because of this statement, the US dollar surged.
Sorry, it was a false alarm. Canadian $ will probably go back to par with the US after a few weeks, or maybe a few months, if all is quiet.
Sorry, it was a false alarm. Canadian $ will probably go back to par with the US after a few weeks, or maybe a few months, if all is quiet.
I am not an economist, but it looks to me that the best way to predict the evolution of the loonie is to watch the price of crude oïl.
Yes. Oil is the key to USD/CAD FX rate. Right now 1.0549 usd. It is at 1yr high. Prices at gas pumps here in States is going down. US stock mkt drop last wk on predicted higher interest rates. Usu US stk mkt is down the USD rate goes up. Lower stk mkt is seen as lower demand for oil.
At 1.05 it really is not that big of a difference. When compare 1.05 with lets say EVEN PAR $1usd=$1 loonie, it really is an extra $50cad on $1000usd not includ exch rate fees.
It is a psychological difference really of getting "more" loonies back. Not like days of 1.20 or 1.40.
Maybe girls will accept usd at EVEN again. They will get lil more even with exchange fees.
It is a psychological difference really of getting "more" loonies back. Not like days of 1.20 or 1.40.
Maybe girls will accept usd at EVEN again. They will get lil more even with exchange fees.
true the 1.05 means nothing as far as more americans coming up north, after the exchange fee it wont really be much more. i know really nothing about currenct but i think money can go up against othercurrencys even if it goes down against others,, some dollars including loonie went down against the us but some went up like australias, so perhaps the loonie can go up against 3rd country money even if it drops against usd
I travel frequently to the US and I try not to exchange my money to avoid exchange fees. When I receive US funds from a customer (yes I take it at par), I keep it and spend it in the US. Or it goes into a US dollar bank account.
It seems that most of my life the US dollar has been stronger than the Cdn, I don't know anything about the why and how, but I cant help but think it will be again in the future at some point.
It seems that most of my life the US dollar has been stronger than the Cdn, I don't know anything about the why and how, but I cant help but think it will be again in the future at some point.
FX rates WILL go up or down as compared with other currencies, but on the large scale the US is the largest trading partner with CAN just by virtue of proximity. Throw some oil on a Irving boat and sent it down or send it through the pipeline that can't get approved in US.
The exch with aussies has a much smaller volume impact unless you are trading for Vegemite. Vegemite and smoked meat sandwich, probably not so good.
The exch with aussies has a much smaller volume impact unless you are trading for Vegemite. Vegemite and smoked meat sandwich, probably not so good.
I have the XE Currency App and as of right now, $1.0 USD=$1.0510 CDN. Let's hope it creeps up to about $1.10 or so in the next week. This would be nice. Not the Canada For Sale Days of 2002 when the US Dollar got $1.60 CDN, but after the past few years, we'll take it.
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