Canadian Dollar now higher than US...Slightly

reply to post by mademyself1984


You mean $1 USD was getting you $0.80 CAD?

well so much for that announcement coming a few days late ca.finance.yahoo.com...

It dropped nearly 3 cents today.

Can anyone shed a bit of light on what this obvious strenghthening of the US dollar means in light of the markets tanking, gold and silver dropping off and the global economy going boobies-skyward . . .

There seems to be no reason for the Canadian dollar to be dropping, rather it would appear that the US dollar is strengthening.

Makes no sense to me.

What's driving this, or is this driving something else?

Very strange, oil, gold, markets all down together and usdx up. If the usd is the "safe haven" now would be a good time to start printing another $500 billion for obammy's new jobs plan, if you wanted to put the nail in the coffin.

I view this more as a positive for the Cdn economy. Yes we pay more for imported items, but our exports tend to be more affordable with this lower dollar. As for whats to blame. I think that it is more tied to the cost od a barrel of oil then the US dollar.

reply to post by jude11


Sorry if I misread your OP...it sounded like you were saying that the Canadian dollar was currently strengthening because the United States dollar was weakening. I think a few others took it that way too.

By the way...boy today was another nose dive for the loonie. By by parity!!!

Originally posted by Gibbon
reply to post by jude11

 

Sorry if I misread your OP...it sounded like you were saying that the Canadian dollar was currently strengthening because the United States dollar was weakening. I think a few others took it that way too.

By the way...boy today was another nose dive for the loonie. By by parity!!!

Yup, got a beating on the loonie and silver basically did a vertical as well. Crap.

Originally posted by jar11
reply to post by mademyself1984

 

You mean $1 USD was getting you $0.80 CAD?

Negative, I mean that in the grocery store, gas station, anywhere other then Ye Olde Chips Trucks, if something cost me a dollar, and I gave them an American 1 dollar bill, I owed them nearly another quarter. Some days it probably was in fact a quarter. It fluctuated the entire time I was up there, but I can say with certainty that this was the first year since my family has owned and used the cabin in Ontario that our money was worth less than theirs. The Cabin has been there for 45 or 50 years...