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Canadian dollar, 0,9998! (edit: Now more than 1$!)





Urban
The Canadian Dollars now worth 0,9998 $ against the U.S. Dollars !

EDIT : At the time of this edit, the CAD worth ~1.03961 (Sun Oct 28, 2007 11:29 am)
LumberJack
Actually, it has been over 1.00 US already. 1.0008 Smile

Just thought I would let you know. Pretty soon, it will be the American Peso Smile
Urban
Thank you! I found a pretty good website : http://www.x-rates.com/d/CAD/table.html

Hey, are you sure it's not opposite? 1 CAD = 0.999201 USD ?
JAmadeus
This is crazy... Time to start investing my US$$$ elsewhere. How could we let the dollar get so weak?
the-guide
It's seem that at this period dollar still weak although at this time dollar try to bouncing back from 1.4282 to 1.4219 USD/EURO but I think it cannot go far away.
dickyzin
The Australian dollar is on the high against the US too. I've heard on the news that it is predicted by some that Australian dollar will rise higher against the US. Canadian dollar is doing quite well. US currency is so low now and it's apparently due to the bad property market. Australia might also end up like the US currency if its current property market does not recover fast.
LumberJack
What is the price of a home in Australia now a days?
Soltair
Our Canadian dollar went up to 1,03$ recently... Most experts predict that we will stay above the US$ for a year or a year and a half, then go back to around 0,95 US$ in relative value. I do not know why we will have this go down, though...

Some people here truly fear this situation. Our manufactures aren't too strong these days, because we face the same problem as most other industrialized countries. Our production is being relocalized in eastern Asia... And now that the dollar is high, those that remain fear that they'll have trouble exporting their goods. Our tourism has also dropped, as most of the visitors in Canada were Americans. However, there are also some good points: we can now buy new technologies cheaper, and most experts agree that the current situation is far more normal than the one putting our dollar around 0,65 US$, as it was a decade or a bit more ago. And we've had good news, too, when a study revealed that our economy was last year far less dependant thant usual from the US, with an interaction degree of around 35% (it was far, far higher before). We've even escaped their economical crisis in the properties...

That is something good to me, because the US economy is quite bad these days. This country has too much debt, and the big dependance we tend to have towards them makes us vulnerable to any fluctuation of their markets. We've seen that it can happen often in the past...
MikeNF75
The casino I work for here in New York is currently exchanging Canadian to US dollars about a rate of $1.01. I can remember when the US Dollar was worth nearly a buck sixty in Canada! It made the party nights on Clifton Hill in Niagara Falls, Ontario all the better.

Quote:
we can now buy new technologies cheaper, and most experts agree that the current situation is far more normal than the one putting our dollar around 0,65 US$, as it was a decade or a bit more ago.
That almost remained a standard as late as 2000, so yeah pretty close to a decade ago. Until about a year ago, the dollar remained at about $0.75 - $0.80 on the average. This new shift could have some good and bad sides to it. Living in a border city, I'll be watching with great interest.
LumberJack
I think it will fall back down after Christmas, unless somehow Ontario and Quebec can get their economies moving a bit more.
metronome
our mr buffet just said that USD will continue even weaker against CAD. I wonder if I have to start doing short on USD/CAD now>.<
scrub
It sure seems like the US dollar will just continue to decline, as the economic house of cards we've built up continues to collapse around us! The housing bubble has popped, the tightening of credit standards threatens our entire economy based on credit, energy costs keep going up with no end in sight making everything we do cost more, climate change increasingly affects food yields and energy production and even basic availability of water to cities not just in developing countries but even in first world countries... All this suggests we can't continue life as usual for much longer!
Dean_The_Great
Being Canadian, you'd think I'd be excited about the rise in the dollar, but it's not really helping me at all.

As a performer, much of my business is fueled by big business film/theatre producers looking to get economic advantage in Canada, but now with that advantage waning, they have no reason to come to Canada.

Also, many exports that dealt in US funds are not as valuable as many businesses made their prices in USD based on its strength. Now those businesses are experiencing losses as they deal with contracts that have yet to expire that give them less.

I'm hoping it either hangs out at par, or even drops a little. That would make life a little easier for me.
the-guide
That right, and this event seem consistent to US government's policy that want to compete with other countries in export.
poly
Yeah, the dollar is incredibly weak.
LumberJack
Canadian Dollar cracked a 1.07, I think everyone is surprised. I read one article where some currency traders said they just flip a coin to see how far it will go.

RBC says it will top off at 1.08 cents. Keep in mind, we aren't the only country that is having an appreciating currency. Australia's dollar is doing very well.
dickyzin
The Australian dollar went up to 93 US cents. It's remaining around 92 US cents.
cybernytrix
checkout http://dollardaze.org you will find answers to all your questions! basically USA Inc is screwed!
LumberJack
Nice website man, asks some interesting and tough questions.
4x4all
As I said in other forum, the best is New Zealand, followed by Australia and Canada. Canadian Dollar is already 1 to 1 with US Dollar while Australian Dollar should catch up soon. New Zealand Dollar still long way to but due to its stability, its good to buy when it still cheap.
dickyzin
The Australian dollar has gone up to 0.95 US cents today. And apparently, it has been predicted that it will go up to 0.97 US cents in a month's time. I should have converted my US dollars when the Australian was lower Sad.
Flarkis
W00t. Je suis canadien. Well kinda... Still the Canadian dollar is doing amazing and like everyone has said its the poor housing market in the states.
supjapscrapper
such a weak dollar is a reaφ catastrophy to the world market. everything gets too expensive there and it gets a lot harder to sell goods, so econimies which want to export good are in a big big problem... Man gather yourself and make tehe dollar stringer. Here in europe the Euro is now worth more than 1,4 USDollars and growing... this is real bad let me tell ya !
ddoonie
The euro was at 1.6 to the US dollar during the week... i think it is only going to get worse before it gets better over here in north america... Time to pay for the Credit debacles..
dickyzin
1 US dollar is more than 0.96 Australian dollars now. Can it reach 1 for 1 ratio?
akh-international
<1 US dollar is more than 0.96 Australian dollars now. Can it reach 1 for 1 ratio?>

I am sure 1 for 1 ratio will be coming in nexw few months...Aus. dollar will be same like Can. dollar
deanhills
JAmadeus wrote:
This is crazy... Time to start investing my US$$$ elsewhere. How could we let the dollar get so weak?


Maybe it is a little bit of both. The US $ did get weaker, but the Cdn $ got stronger as well.

At least we can now have nice holidays in the US again Smile Maybe even attend a few training courses.

More seriously though I am almost certain this was deliberate. US want to be able to export its products better. So allowed the US $ to become weaker. Personally it has affected me very negatively. I am working in a country in the Middle East that has its currency pegged against the US $ so this is a double whammy for me. Since I am paid in local currency I have been taking a paycut on a progressive scale for quite a while now. Inflation here has also hit the roof. Guess everyone has been affected in the negative, except perhaps those who are into Euros.
gcaughill
Urban wrote:
The Canadian Dollars now worth 0,9998 $ against the U.S. Dollars !

EDIT : At the time of this edit, the CAD worth ~1.03961

(I have no skill in this matter but I think this subject deserve a topic ! I want to read you!)


Months later it is:

1 Canadian dollar = 0.982608 U.S. dollars

(As of July 7, 2008 @ 1:08pm)

So it has maintained that mostly due to weakness in the US economy and strength in our natural resources... hopefully Ontario will avoid a recession.
deanhills
I have been working on contract outside Canada for quite a while. Does anyone know how salaries in the large cities like Toronto compare with salaries in New York? When I was there last in 2001 salaries in Canada except for really specialized areas such as animation art in Quebec, computer related technologies were lower, and of course Canadians pay much higher taxes. What is it like presently? I know some friends who are now investing in properties in the US, whereas before it was impossible to do, so there must be more investment opportunities, but just wonder what has happened with the salary differentials between the two countries?
dickyzin
The Australian Dollar is now at its highest in 25 years! The conversion rate today is 97.18 US cents per 1 Australian Dollar. Australia's dollar touched its highest since February 1983. I hope this will halt further increases in petrol prices in Australia.
deanhills
dickyzin wrote:
The Australian Dollar is now at its highest in 25 years! The conversion rate today is 97.18 US cents per 1 Australian Dollar. Australia's dollar touched its highest since February 1983. I hope this will halt further increases in petrol prices in Australia.


Is it the Canadian or Australian Dollar that are higher, or is it the US dollar that is lower? Was thinking about it a few days ago. Whichever way, must be good for morale?
Urban
Now the US dollar is a bit higher than the Canadian dollar (about 2’).
the-guide
US dollar seem to be continually weak compare to all other currencies. Euro by USD at this month last year is about 1.35 but nowadays it is around 1.58 to 1.60 (1.5940 at this time).
dickyzin
The Australian dollar has dropped to 92.7 U.S cents last night. Can it drop further or will it come back stronger?
LumberJack
It will drop further. Sorry Smile
Dean_The_Great
Currency change is really interesting. Plus, I find a strong Canadian dollar is not particularly good for the Canadian economy. It really reduces our exports, and although it increases the value we get on imports, a lot of Canadians take advantage of our strong dollar and spend it in the US or online at American websites. And with the Free Trade Agreement, Canada doesn't make any money in duty or anything, so it's really just lost money. I'd be happy if the Canadian were to stay at around .85 - .90 American.
dickyzin
Australian dollar is now 83 US cents. It dropped due to the US financial crisis I guess.
dickyzin
Can you all believe that the Australian dollar has dropped further down to about 64 US cents these past few days?
pll
The canadian dollar dropped a lot too Sad
Urban
Everything is dropping..
mrcool
Urban wrote:
Everything is dropping..



I totally agree! it seems that everything is dropping until the end of this year!!! How sad Sad
Urban
Wow.. now the canadian dollar is under 80’ USD, this is what I call a drop.

But I don't think it's a bad thing, maybe even a good move.
gtoroap
Well, I doesnt matter to me... I will invest in euros... obviously higher than dollars (american and canadian)
Bikerman
gtoroap wrote:
Well, I doesnt matter to me... I will invest in euros... obviously higher than dollars (american and canadian)

I would think twice about that if I were you....the dollar looks better than the euro right now....

When the markets are scared then they go for safe options. The dollar (particularly when backed by US govmt bonds) is normally the safe bet...
LumberJack
There is a flood towards USD right now. I am unsure of the cause. I have heard some "theories" that countries around the world are also trying to support the USD. Thoughts?
Bikerman
The USD is seen by investors as a safe haven since the US treasury is committed to maintaining the value (within reasonable limits). Thus in times of recession we normally see investment in USD along with gold and 'blue chip' stocks. I see no reason why this would be any different at this time (even though the US originates the 'sub prime' problem).
jonchalk
Gone are the days where the "water cooler" conversation consisted of sports and entertainment, but the frequent topic of conversation now at work is how the Canadian Dollar has dropped so quickly in the past few days. Though a lower dollar against the US dollar has its benefits (increased trade with the US and tourism), however the discussion amongst management at work is that a drop that is too fast is causing some concerns. Many questions are asked about how this affects the costs of goods if the rapidly changing dollar makes it very difficult to predict or forecast a budget. I have seen instances where suppliers are constantly changing their fees/prices due to the fluctuating dollar. At one point however the markets and exchanges will level out. But in the meantime we will be on this roller-coaster for the next forseeable future.
edwinl
Everything is dropping around the world , not a good year, hope 2009 will be a better year
dickyzin
Australia dollar dropped to just above 60 US cents! I reckon people in Australia will be staying put down under until the exchange rate comes back up. Also the fuel surcharge is the same price and sometimes even much more expensive than the air fare itself. Cheap travel days are over I guess.
mrcool
I do have a client who is importing goods in Canada..now, she is afraid to import. why is that so? this will not last for a long time, i think. i know U.S and Canada will recover as soonest as possible.
gandalfthegrey
Let us merge the Canadian and Australian dollar!
silvereye
The dollar is looking better than it has in the past year against the Euro. It is because the Euro dropped isn't it.... Investing in currency is just as risky as stocks?
Urban
silvereye wrote:
The dollar is looking better than it has in the past year against the Euro. It is because the Euro dropped isn't it.... Investing in currency is just as risky as stocks?


From what I've heard, it's risky to invest in everything now, you should wait some weeks before investing.
dickyzin
I think we've seen the last of Australian and Canadian dollars being in the high 90 cents US. At least for a decade. The lower Australian and Canadian dollar is not a bad thing since it protects its businesses and economy during global recession.
LumberJack
dickyzin wrote:
I think we've seen the last of Australian and Canadian dollars being in the high 90 cents US. At least for a decade. The lower Australian and Canadian dollar is not a bad thing since it protects its businesses and economy during global recession.


I don't know about a decade, I would say maybe at least until 2010 when the world economy begins to recover (at least my thoughts on when it will recover). Then, oil and commodities prices will start to rise again and the currencies will start doing well again.
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