Canadians with any US dollar denominated assets might want to take a look at the state of the US dollar.
I have to call my broker first thing tomorrow morning.
A significant amount of my money is sitting in a US money market fund.
Some economists are calling for the Canadian dollar to hit 69 to 70 cents US this year.
I am not a currency trader but some factors seem to indicate this trend may continue.
Canadian interest rates are on the way up where the US is holding tight.
Canada will have a trade and budget surplus this year where the US will have a massive trade and budget deficit.
US stocks are still historically extremely expensive.
The US depends on fresh money inflow which will be less attractive with a falling dollar.
Foreigners holding US cash, stocks, bonds, and treasuries may start unloading creating even more pressue on the US dollar.
I have to call my broker first thing tomorrow morning.
A significant amount of my money is sitting in a US money market fund.
Some economists are calling for the Canadian dollar to hit 69 to 70 cents US this year.
I am not a currency trader but some factors seem to indicate this trend may continue.
Canadian interest rates are on the way up where the US is holding tight.
Canada will have a trade and budget surplus this year where the US will have a massive trade and budget deficit.
US stocks are still historically extremely expensive.
The US depends on fresh money inflow which will be less attractive with a falling dollar.
Foreigners holding US cash, stocks, bonds, and treasuries may start unloading creating even more pressue on the US dollar.