Canadian Dollar keeps going up
- Thread starter Cobster
- Start date
http://www.xe.com/Capoeira said:
Under 'More currencies' you can select the CDN$ and see the rates for many other currencies.
I just got screwed.
On Thursday I moved a fair chunk of US holdings into CDN thinking it may go from 1.07 back to 1.10. It is now 1.037.
Fuck, I need a drink.
http://today.reuters.com/news/artic...ST_0_MARKETS-CANADA-DOLLAR-BONDS-UPDATE-1.XML
On Thursday I moved a fair chunk of US holdings into CDN thinking it may go from 1.07 back to 1.10. It is now 1.037.
Fuck, I need a drink.
http://today.reuters.com/news/artic...ST_0_MARKETS-CANADA-DOLLAR-BONDS-UPDATE-1.XML
Finally, a bounce up for the battered US peso.
I have never seen a currency fall so far so fast with hardly any relief rallies at all.
When the Loonie hit $1.10, a lot of profits were taken off the table and carry trades unwound.
I'm glad I picked up some US$ for my next vacation.
I have never seen a currency fall so far so fast with hardly any relief rallies at all.
When the Loonie hit $1.10, a lot of profits were taken off the table and carry trades unwound.
I'm glad I picked up some US$ for my next vacation.
This is what I use for real-time based on a page reset:Capoeira said:
http://newsvote.bbc.co.uk/2/shared/fds/hi/business/market_data/currency/12/14/twelve_month.stm
I have it defaulted to the Yen. All are USD.
Gyaos Baltar.
The Canadian Dollar was overvalued and it did what most expected it would do. It should retreat a bit more and then hold steady at roughly a bit better or worse than par with the USD. Unfortunately for Ontario that wouldn't be enough to help turn the tide for our battered manufacturing and services industries who rely on US investment.
yes, can go down...but the us (ours I am from US) economy supposedly "going down in the toilet" analysts say.
Paul Jenkins Senior Deputy Governor of the Bank of Canada said to the Ontario Economic Summit in Niagara-on-the-Lake that "if recent levels of the Canadian dollar were to persist, the risk is that output and [interest rates]would be significantly lower." (i.e. putting the Canadian economic growth in peril).
I wonder how much of the SP market in Toronto is "local" and how much is "cross border?" Is the strong Canadian dollar having any economic effect on SPs and will that have an evenual effect on rates?
Another possibility y'all are missing is that a high dollar could spur manufacturers to become alot more efficient.
During the last bout of US dollar strength in the 90s, Caterpillar decided to take a stand. The CEO at the time decded that they would implement every cost-cutting initiative that made sense. They enlisted the help of everyone in the company, all the way down to the janitorial staff, to root out every kind of waste. In other words, they got creative, then got busy trying to keep their jobs.
Why can't canadian manufacturers do this? We have alot of very capable people here. What we lack, and I'm very solid in my conviction on this, is good courageous management. It is management's task to lead their company. The easy way out is just giving up, and going offshore.
CAT didn't do that, and now they're a great american manufacturing success story.
During the last bout of US dollar strength in the 90s, Caterpillar decided to take a stand. The CEO at the time decded that they would implement every cost-cutting initiative that made sense. They enlisted the help of everyone in the company, all the way down to the janitorial staff, to root out every kind of waste. In other words, they got creative, then got busy trying to keep their jobs.
Why can't canadian manufacturers do this? We have alot of very capable people here. What we lack, and I'm very solid in my conviction on this, is good courageous management. It is management's task to lead their company. The easy way out is just giving up, and going offshore.
CAT didn't do that, and now they're a great american manufacturing success story.
S
superman
RIM, as well as other high margin companies are able to compete.FOOTSNIFFER said:
Maybe we need to move up the food/ value chain and own companies in 'Chindia'.
This requires more favorable tax/ immigration/ etc. policy.
Lower int. rates would faciliate growth and stave off recession, the BOC target on inflation is too low/ insane, in a global economy that needs our raw materials [that should be processed here, like tar sands oil; that would result in over 16,000 well paying jobs here vs. the USA]. The BOC is using an out of date inflation model, hopefully the new guy/ Mark gets that ASAP...Aardvark154 said:
I hope people realize that the dropping dollar is good for Ontario in general! Maybe not for Alberta but definately good for Ontario. I may complain because I travel to the US a lot and my purchasing power is reduced but I understand this good for us overall.
Speaking strictly as a vacationer, I'm just hoping that the CDN$ remains at par,or a cent or two above(preferred) or below the USD$.
YEAH!!! The Canadian Dollar is weaker than the US Dollar again.......well almost:
Canadian Dollar 1.00015
Canadian Dollar 1.00015
Tuesday is the big day. If Canada lowers interest rates on Dec 4th, the Canadian dollar might just not be going back over the US dollar anytime soon. It was a given that they would cut rates to weaken the Canadian dollar but now that is has been going down its a maybe...big day Dec. 4th.
