Canadian Dollar

[jamietoronto 0]

Today, the Canadian dollar reached pairity with the U.S dollar.  It is expected to surpass the U.S dollar in the future.  How do you feel about this?  How long do you think it will last?
Thanks

[coolotter88 2]

I'm confident that the USD will recover some time within the next 40 weeks

[Godzillaman 21]

Canada will...OVERCOME!

Toronto Skyscraper BOOM!

muahahaha....muahahaha...MUAHAHAHA!

[Kevin 101]

What causes the exchange rates to go up or down?

[coolotter88 2]

actually, when the war in iraq ends, the dollar may rise again, so our friends up north, don't get too [Content] Marc

and also, presidential popularity also seems to affect the dollar

a quick google returns this webpage

http://www.currencytrading.net/2007/50-factors-that-affect-the-value-of-the-us-dollar/

[jamietoronto 0]

lol, coolotter88. I think we (Canadians) should have the dollar that is worth less. Canada's economy depends on Americans, and scince we have been getting a more valuable dollar, Canada looses a lot of money. Americans used to come to Canada as an inexpensive vacation, and also buy some stuff with that great american dollar. Now, there isn't much of a reason for Americans to come to Canada and spend that American money. That means no stimulation of the (Canadian) economy, which means a weaker economy, which means a weaker Canadian dollar. I guess this situation will repeat itself over and over.

That is just my opinion.

[coolotter88 2]

perhaps purposefully inflating the Canadian Dollar to lower it's value? don't worry, the USD will go up again and the CAN (is that right? or CND?) will go down, I'd suggest investing in USD now, and after President Bush is done with his term, and the mess gets cleaned up, you move your USD back to CAN and then you make money!

[crazyyaya 4]

This may actauly end up being bad for the Canadian economy, Tourism is a perfect example.

[bakercity 270]

The Canadian Dollar and the USD need to stay where they can benifiet both Canada and the USA. This inflation of CND (correct initials) will only last for awhile. Canada does depend on American vacationers spending the USD in Canada, but remember, Canada is an independent country and they can do what ever the hell they want; just as America does minus the War in Iraq and Afghanistan. (I support our troops over there, but disses the war and Pres. G. W. Bush.)

[beebs 129]

Depending on how high the loonie rises, I'll probably end up buying some USD. It's about time I get a cheap vacation down south. First time in like 30 years the loonie has been above the greenback.

[1dera3 28]

Around 1/20/08, the USD exchange rates will skyrocket...

[Insane Child of Bodom 1]

Again otter is exactly right....for once...it has to do with Bush/war and many other ugly factors...

Canada is a strong nation,but its dollar is strong due to our dollar being weak...

what we need to keep an eye on is the Yen...I heard its gaining alot of ground...

[coolotter88 2]

it can't gain too much, the Japanese have to keep their money devalued

[adhoc 1]

Originally posted by: 1dera3 Around 1/20/08, the USD exchange rates will skyrocket... quote>

What exactly will happen by 1/20/08?

[coolotter88 2]

President bush leaves office and someone new comes in?

[beebs 129]

I think you mean 2009. Last time I checked, the US elections aren't until 2008.

[Haljackey 17,242]

Well, just a few minutes ago, the Canadian dollar was trading at 99.95 cents US. With the exchange rates at the major banks, that means that you would actually LOSE money if you converted $US to $Can. Amazing!

If we Canucks want to go anywhere in the world that uses the USD, now is the time! I'm thinking of booking a vacation in the Dominican Republic for the Holiday season if things stay as they are.

The funniest thing is, even though its about even between the two currencies, most goods/services cost 20% more here in Canada. Add GST and PST to that, and your looking at more like 25-30%, depending on where you live. Canadians are going to the US on shopping sprees, and its not likely that retail prices here will catch the dollar anytime soon.

Even though the high dollar is hurting exports, (especially to the USA where their dollar is low), a strong dollar means a strong economy, which intern means a prosperous society. Congrats Canada and all its hard workers for making the dollar as strong as it is today! We are the envy of the International Community economically, and lets stay like that!

[Meg 368]

Originally posted by: jamietoronto 

Americans used to come to Canada as an inexpensive vacation, and also buy some stuff with that great american dollar. Now, there isn't much of a reason for Americans to come to Canada and spend that American money.  quote>

 

And Canada is not letting people with minor offenses in to the country.

http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/02/23/NEVIUS.TMP

[LarksTonguesInAspic 28]

Originally posted by: haljackey Congrats Canada and all its hard workers for making the dollar as strong as it is today! We are the envy of the International Community economically, and lets stay like that!quote>

 

Not to disrespect  the Canadian proletariat, but it's more a function of policy by the Powers That Be here in the US. They pay lip service to the high dollar, but are quietly pushing low dollar policies that help US exports. It's also a ploy to try to force China to stop artificially pegging the value of the yen to the dollar. My bet is that it will last until a new president takes office, no longer.

[Jasoncw 11,839]

Last time I bought something in Canada, I think the exchange rate was something like 1.60 or 1.70 per USD.  Everything in Canada was like it was on sale, and then of course the store I bought at actually was having a sale, so it was really cheap.

[Micah 16]

Good thing you don't have to worry about currency exchange rates on the STEX.

[coolotter88 2]

I just need a good exchange rate to convert my Simoleons to USD

and I don't think canucks really did anything to raise their dollar xD

[griffen_star 0]

Mmm, I don't think many congrats to Canada can be given with this. Its a huge fact that Niagara Falls, Canada has seen a 42% drop in tourism this summer. Yet the American side of the falls has seen a huge increase. People are scared of Canada these days. Most Americans don't know if they need a passport or not and since the canadian dollar has risen it makes services that are already expensive in Canada even more expensive. And no, the value of the dollar can not be placed in the countries economy alone. Canada's economy has huge short comings compared to the US economy. The unemployment rate in Canada is huge, larger than the US will most likely ever become again Plus, the world market doesn't take Canadian exports very seriously concidering the lack of regulations in comparison to the US.

[ShortStraw 1]

Originally posted by: SkiGeek

Originally posted by: jamietoronto 

Americans used to come to Canada as an inexpensive vacation, and also buy some stuff with that great american dollar. Now, there isn't much of a reason for Americans to come to Canada and spend that American money.  quote>

 

And Canada is not letting people with minor offenses in to the country.

http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/02/23/NEVIUS.TMPquote>

That minor offenses thing is kind of snooty I think.  Also, a pretty frivolous way to use anti-terrorism tools.

[jamietoronto 0]

That minor offences thing is a problem. There was a rapper (i can't think of who) and he had a very minor offence, i think just trespassing, or something like that. Anyway, he had to go to Toronto to do a rap concert, and he was denied entry into canada. They are now even talking about banning 50 cent from Canada.

[A Nonny Moose 8,261]

I wouldn't object to banning 50 cent from Canada.  Bums are bums.

The exchange rates are totally artificial in many ways.  The Canadian dollar is not particularly strong, the U.S. dollar is weak.  Nothing like an unpopular foreign war to mess up the markets.  Not only that, but many of the U.S. automakers have been having a hard time. 

Automobile manufacturing and war are the engines of the U.S. economy.  Both are being attacked internally and beaten to death on the international scene.  GM and the others need to clean up their act.  Planned obsolescence is out, these days.  People are finding it hard to put a roof over their heads let alone buy a new car every couple of years.  UAW, wake up.  Your mortgage will be the one that is foreclosed next, after the plants you work in close.

The philosophy of more, more, more doesn't work any more.  As the wage number go up, so does everything else.  What is real wealth, when inflation wipes out your gains?

[beebs 129]

Originally posted by: griffen_star Mmm, I don't think many congrats to Canada can be given with this. Its a huge fact that Niagara Falls, Canada has seen a 42% drop in tourism this summer. Yet the American side of the falls has seen a huge increase. People are scared of Canada these days. Most Americans don't know if they need a passport or not and since the canadian dollar has risen it makes services that are already expensive in Canada even more expensive. And no, the value of the dollar can not be placed in the countries economy alone. Canada's economy has huge short comings compared to the US economy. The unemployment rate in Canada is huge, larger than the US will most likely ever become again Plus, the world market doesn't take Canadian exports very seriously concidering the lack of regulations in comparison to the US.quote>

6% unemployment rate is huge? That's only 2% off of the US's number. Indeed, much of the loonie's meeting up with the greenback is due to the recession down south.. but Canada isn't exactly doing terrible right now either. Rather, the western half of the country is booming. It's the maritimes, which have been in a slump since god knows when, that stop that from showing in the economy, I think.

[Barbarossa 51]

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  Edited September 7, 2012 by Barbarossa  

[LarksTonguesInAspic 28]

Originally posted by: Barbarossa

The main problem with the US dollar is political, and the fact that we have left the Gold Standard and now use the Stock Exchange (which is dumb, IMO).

Barbarossaquote>

 

I was looking forward to your take on this, Barbarossa;  As I recall you are in the financial sector and would have some insight on this. I'm in agreement with you on this one.

This problem goes right to the core of our policies and structure, and doesn't change much with presidential or congressional turnover.

[Goldfish4209 9]

Well, this was bound to happen someday. But, it'll go back to where it was in a few weeks/months/years, and then probably fluctuate somewhere around canadian dollars being a bit lower.