Canadian dollar up like a mofo this morning

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  • Jay_StandAhead
    Confirmed User
    • Jul 2002
    • 3103

    #1

    Canadian dollar up like a mofo this morning

    as of 6:12 am, it's up 1.05 cents (1.30%)

    http://finance.yahoo.com/q?s=%5ECCD

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  • cool1
    sex is good
    • Sep 2001
    • 24939

    #2
    Pretty soon a dollar will be worth a dollar

    Comment

    • UniqueMovies
      Confirmed User
      • Feb 2003
      • 1691

      #3
      Its pissing me off!

      I remember when $2,000 USD was worth 3,000 CAD.

      Now its worth $2,442.00 CAD

      Comment

      • psyko514
        See sig. Join Epic Cash.
        • Oct 2002
        • 22366

        #4
        goddamnit.

        i'm just gonna go back and work for the bank if it stays like this.

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        • Muff
          Confirmed User
          • Mar 2001
          • 1782

          #5


          Looks like it's gaining back some points it lost last night. I think once the elections over we might since a stronger USD.

          Comment

          • BrainClaude
            Registered User
            • Dec 2003
            • 37

            #6
            He Jay...

            whazzzup.....better sell Euro now

            Ciao
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            • sacX
              Confirmed User
              • Dec 2002
              • 2998

              #7
              doesn't help when the US government is essentially short the USD :/
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              • Muff
                Confirmed User
                • Mar 2001
                • 1782

                #8
                Originally posted by sacX
                doesn't help when the US government is essentially short the USD :/
                Exactly. From what I understand. The further they push the dollar down the easier it will be to pay back the deficit.

                Comment

                • wyldblyss
                  Confirmed User
                  • Nov 2003
                  • 5779

                  #9
                  Damnit! I really miss the good old days when a U.S. dollar gave you $1.50 Canadian.

                  Comment

                  • nikcho
                    Registered User
                    • Jan 2004
                    • 57

                    #10
                    Guys, I am not sure if you remember 13 years ago with the first Iraq war:

                    DEM/USD = 1.42 (DEM = Deutsche Mark for the US folks)
                    DEM/EUR is fixed at 1.955

                    so, back then 1 EUR = 1.38 USD

                    Right now 1 EUR = 1.26 USD if I am not mistraken.

                    Given the political and the economic situation in the US, there is still plenty of room for the USD to go down. Not good for EU and Canada exports but much cheaper for tourists to USA :-)

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                    • sacX
                      Confirmed User
                      • Dec 2002
                      • 2998

                      #11
                      If you look at 2005 budget and future budgets for the US, there's no decrease in spending, the only plan to reduce the deficit is to get more tax receipts, and those forecasts were made when the economy was chugging along a lot better than it is now...

                      So with the budget deficit fucked and the trade deficit getting worse, I think there's only pain for USD holders in the near term (at least 18months)
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                      • Ramster
                        Confirmed User
                        • Jul 2002
                        • 1447

                        #12
                        This dollar shit is a fuckin' killer.
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                        • Spunky
                          I need a beer
                          • Jun 2002
                          • 133978

                          #13

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                          • skillfull
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                            • Apr 2003
                            • 4716

                            #14
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                            • TheLegacy
                              SEO RobertWarrenSEO.com
                              • Apr 2003
                              • 18192

                              #15
                              Being in toronto and getting paid in american funds is getting sick. People stop having confidence in Canada LOL

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                              • quiet
                                we'll miss you our friend. RIP
                                • Sep 2001
                                • 25115

                                #16
                                it's getting ridiculous. everyone getting paid in USD in Canada are getting a HUGE paycut courtesy of the exchange rate.
                                we'll miss you our friend. RIP

                                Comment

                                • stocktrader23
                                  Let's do some business.
                                  • Jan 2003
                                  • 18781

                                  #17
                                  Originally posted by Muff


                                  Looks like it's gaining back some points it lost last night. I think once the elections over we might since a stronger USD.
                                  The timeframe on your chart is worthless. The currency moves that much several times per day, every day. Here's what it really looks like.



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                                  • Fizzgig
                                    Registered User
                                    • Feb 2004
                                    • 9649

                                    #18
                                    Originally posted by quiet
                                    it's getting ridiculous. everyone getting paid in USD in Canada are getting a HUGE paycut courtesy of the exchange rate.
                                    So true. So sad
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                                    • directfiesta
                                      Too lazy to set a custom title
                                      • Oct 2002
                                      • 30184

                                      #19
                                      Originally posted by Muff
                                      Exactly. From what I understand. The further they push the dollar down the easier it will be to pay back the deficit.
                                      Wrong, it is worse.

                                      Example:

                                      Let's say the US owes 100 Euros.

                                      At today's rates, the US wpuld need 127.706 USD to repay.

                                      If the US dollar goes lower ( looses value), it would take more$$$ to obtain the same amount in Euros ( ie 135.00US$ to repay 100 Euros ).

                                      You can also look at the fact that the percentage of US production to repay the debts would grow ( needing more) to repay that fixed amount.

                                      Many economists forecast i, in the case of the Canadian dolar, par in about 18 months.
                                      This because the Can$ is also very strong ( winning value also against the Euro ...).

                                      Back to selling ....
                                      I know that Asspimple is stoopid ... As he says, it is a FACT !

                                      But I can't figure out how he can breathe or type , at the same time ....

                                      Comment

                                      • sacX
                                        Confirmed User
                                        • Dec 2002
                                        • 2998

                                        #20
                                        Originally posted by quiet
                                        it's getting ridiculous. everyone getting paid in USD in Canada are getting a HUGE paycut courtesy of the exchange rate.
                                        don't forget europe, australia, new zealand... pretty much everywhere.
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                                        • sacX
                                          Confirmed User
                                          • Dec 2002
                                          • 2998

                                          #21
                                          Originally posted by directfiesta
                                          Wrong, it is worse.

                                          Example:

                                          Let's say the US owes 100 Euros.

                                          At today's rates, the US wpuld need 127.706 USD to repay.

                                          If the US dollar goes lower ( looses value), it would take more$$$ to obtain the same amount in Euros ( ie 135.00US$ to repay 100 Euros ).

                                          You can also look at the fact that the percentage of US production to repay the debts would grow ( needing more) to repay that fixed amount.

                                          Many economists forecast i, in the case of the Canadian dolar, par in about 18 months.
                                          This because the Can$ is also very strong ( winning value also against the Euro ...).

                                          Back to selling ....
                                          The US government doesn't borrow in euros, it issues USD debt, so your example doesn't fit.
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                                          • Jman
                                            Already an AI veteran
                                            • Sep 2003
                                            • 22834

                                            #22
                                            Thanks George W Bush and your wonderfull team of assclowns
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                                            • fris
                                              I have to go potty
                                              • Aug 2002
                                              • 55797

                                              #23
                                              suck my fucking cock george w bush!
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                                              • Muff
                                                Confirmed User
                                                • Mar 2001
                                                • 1782

                                                #24
                                                Originally posted by directfiesta
                                                Wrong, it is worse.

                                                Example:

                                                Let's say the US owes 100 Euros.

                                                At today's rates, the US wpuld need 127.706 USD to repay.

                                                If the US dollar goes lower ( looses value), it would take more$$$ to obtain the same amount in Euros ( ie 135.00US$ to repay 100 Euros ).

                                                You can also look at the fact that the percentage of US production to repay the debts would grow ( needing more) to repay that fixed amount.

                                                Many economists forecast i, in the case of the Canadian dolar, par in about 18 months.
                                                This because the Can$ is also very strong ( winning value also against the Euro ...).

                                                Back to selling ....

                                                They borrowed something highly valuable and now they will pay it back when its value has droped.

                                                So basically they profited the difference in value. Like selling a stock short and buying to cover.

                                                Comment

                                                • VeriSexy
                                                  Join The Royal Family
                                                  • Apr 2002
                                                  • 25463

                                                  #25
                                                  Originally posted by directfiesta
                                                  Wrong, it is worse.

                                                  Example:

                                                  Let's say the US owes 100 Euros.

                                                  At today's rates, the US wpuld need 127.706 USD to repay.

                                                  If the US dollar goes lower ( looses value), it would take more$$$ to obtain the same amount in Euros ( ie 135.00US$ to repay 100 Euros ).

                                                  You can also look at the fact that the percentage of US production to repay the debts would grow ( needing more) to repay that fixed amount.

                                                  Many economists forecast i, in the case of the Canadian dolar, par in about 18 months.
                                                  This because the Can$ is also very strong ( winning value also against the Euro ...).

                                                  Back to selling ....
                                                  Well, money is nothing but paper and ink. They can print money like crazy to pay it all off Only problem is the US dollar will go to hell.
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                                                  • Phoenix
                                                    BACON BACON BACON
                                                    • Nov 2002
                                                    • 35475

                                                    #26
                                                    this is not just Goerge bush we can thank for this.

                                                    Reagans imperial spending circles are now coming home to roost.


                                                    If it dips lower then a dollar im moving to the states, or maybe somewhere warm where i can get more then 1
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                                                    • {fusion}
                                                      Confirmed User
                                                      • Sep 2003
                                                      • 1650

                                                      #27
                                                      what currency do you recommend to buy atm?

                                                      Comment

                                                      • Bomber8888
                                                        Confirmed User
                                                        • Mar 2004
                                                        • 1444

                                                        #28
                                                        It's fucking depressing..... Bush needs to go.. the U.S need a new change and direction.....
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                                                        • directfiesta
                                                          Too lazy to set a custom title
                                                          • Oct 2002
                                                          • 30184

                                                          #29
                                                          Originally posted by sacX
                                                          The US government doesn't borrow in euros, it issues USD debt, so your example doesn't fit.
                                                          True... lol


                                                          Germany is begging the US to borrow 100 $US today, knowing that in 5 years it will be worth much less....

                                                          The Japanese also ....
                                                          I know that Asspimple is stoopid ... As he says, it is a FACT !

                                                          But I can't figure out how he can breathe or type , at the same time ....

                                                          Comment

                                                          • murray_dawg
                                                            Confirmed User
                                                            • Mar 2004
                                                            • 415

                                                            #30
                                                            Sponsors, start paying me in CDN! lol

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                                                            • webgurl
                                                              Confirmed User
                                                              • Aug 2002
                                                              • 7954

                                                              #31
                                                              oh MFG

                                                              i am going to vomit , really bad ! I just got back from US and now i have quite a bit of $$$ to transfer .
                                                              Bad News

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                                                              • murray_dawg
                                                                Confirmed User
                                                                • Mar 2004
                                                                • 415

                                                                #32
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                                                                • Supercharged
                                                                  Confirmed User
                                                                  • Jan 2002
                                                                  • 219

                                                                  #33
                                                                  on Jan 1, the industry as a whole should flip over to the Euro :o)

                                                                  It has nothing to do with confidence in Canada, the CDN dollar value to the USD is just a calculation against other major currencies. USA is devalueing its dollar for a bunch of reasons, none of which include Canada.
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                                                                  • sacX
                                                                    Confirmed User
                                                                    • Dec 2002
                                                                    • 2998

                                                                    #34
                                                                    Originally posted by directfiesta
                                                                    True... lol


                                                                    Germany is begging the US to borrow 100 $US today, knowing that in 5 years it will be worth much less....

                                                                    The Japanese also ....
                                                                    Actually China has huge reserves of USD they don't sell it, so as to keep the Yuan relatively weak.
                                                                    They don't mind taking the falling dollar as it helps there economy chugging along, but if there comes a time when China decides it wants to dump dollars.. then we're all fucked.
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                                                                    • Irrum
                                                                      Confirmed User
                                                                      • Aug 2004
                                                                      • 802

                                                                      #35
                                                                      Originally posted by Ramster
                                                                      This dollar shit is a fuckin' killer.
                                                                      I agree

                                                                      Comment

                                                                      • Strife
                                                                        Confirmed User
                                                                        • Aug 2001
                                                                        • 4534

                                                                        #36
                                                                        Man..this really fucking blows...wish I had exchanged all my USD to CDN back when the US dollar was worth $1.60 CDN...
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                                                                        • davidd
                                                                          Confirmed User
                                                                          • Jul 2003
                                                                          • 1076

                                                                          #37
                                                                          Originally posted by stocktrader23
                                                                          The timeframe on your chart is worthless. The currency moves that much several times per day, every day. Here's what it really looks like.

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                                                                          • Vitasoy
                                                                            GFY HALL OF FAME DAMMIT!!!
                                                                            • Oct 2003
                                                                            • 58202

                                                                            #38
                                                                            Good thing, I did some exchanging yesterday via ATM. Still blows though


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                                                                            • xclusive
                                                                              Too lazy to set a custom title
                                                                              • Apr 2004
                                                                              • 35218

                                                                              #39
                                                                              That ain't shit for me the american dollar is only worth 100 pennies...

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                                                                              • sperbonzo
                                                                                I'd rather be on my boat.
                                                                                • May 2003
                                                                                • 9750

                                                                                #40
                                                                                Originally posted by Bomber8888
                                                                                It's fucking depressing..... Bush needs to go.. the U.S need a new change and direction.....
                                                                                Why? The weak dollar is GREAT for the US economy. This makes our exports cheaper, and our businesses more attractive to foreign investment. The only way that the weak dollar hurts the US economy is that goods that we MUST buy in other currancies (not oil), are more expensive. The strong Euro, for example, is the reason why European exports are so down, and unemployment in big exporters like France and Germany is TWICE what it is in the US.
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                                                                                • xxxdesign-net
                                                                                  My hips don't lie
                                                                                  • Nov 2002
                                                                                  • 10129

                                                                                  #41
                                                                                  Democrats are more protectionist than republicans.. which isnt good for the Canadian economy but will help lowering the canadian dollar...

                                                                                  A Bush win will give the US $ an instant boost.. but will not last long.. Expect the can $ hitting $0.85 fairly soon...

                                                                                  Comment

                                                                                  • CybermedAndy
                                                                                    Confirmed User
                                                                                    • Jul 2004
                                                                                    • 4170

                                                                                    #42

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                                                                                    • sacX
                                                                                      Confirmed User
                                                                                      • Dec 2002
                                                                                      • 2998

                                                                                      #43
                                                                                      Originally posted by xxxdesign-net
                                                                                      Democrats are more protectionist than republicans.. which isnt good for the Canadian economy but will help lowering the canadian dollar...

                                                                                      A Bush win will give the US $ an instant boost.. but will not last long.. Expect the can $ hitting $0.85 fairly soon...
                                                                                      A Bush win won't give the dollar a boost... perhaps if he had no track record and was coming in as a fresh republican candidate.
                                                                                      Murdering of the budget surplus speaks much more than false promises of fiscal restraint.

                                                                                      Plus his budget is already out, there aren't any cuts in spending in it, cutting the deficit depends purely on increased tax receipts.

                                                                                      Bush also isn't that big a friend to free trade, he changed his mind a few times over steel tariffs until his hand was forced by the WTO..
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                                                                                      • Dagwolf
                                                                                        President of Canada
                                                                                        • Sep 2003
                                                                                        • 23141

                                                                                        #44
                                                                                        Originally posted by quiet
                                                                                        it's getting ridiculous. everyone getting paid in USD in Canada are getting a HUGE paycut courtesy of the exchange rate.
                                                                                        Not at all.

                                                                                        The Canadian dollar doesn't buy as much as the U.S. dollar and hasn't for a long time, if ever.

                                                                                        When the exchange rate was 1:1.5 it was actually pretty much equal... You could buy the same amount of stuff for $1 US or $1.50 Canadian.

                                                                                        This hurts a lot.
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                                                                                        • quiet
                                                                                          we'll miss you our friend. RIP
                                                                                          • Sep 2001
                                                                                          • 25115

                                                                                          #45
                                                                                          Originally posted by Dagwolf
                                                                                          Not at all.

                                                                                          The Canadian dollar doesn't buy as much as the U.S. dollar and hasn't for a long time, if ever.

                                                                                          When the exchange rate was 1:1.5 it was actually pretty much equal... You could buy the same amount of stuff for $1 US or $1.50 Canadian.

                                                                                          This hurts a lot.
                                                                                          exactly what the fuck are you smoking?
                                                                                          we'll miss you our friend. RIP

                                                                                          Comment

                                                                                          • xxxdesign-net
                                                                                            My hips don't lie
                                                                                            • Nov 2002
                                                                                            • 10129

                                                                                            #46
                                                                                            Originally posted by sacX
                                                                                            A Bush win won't give the dollar a boost... perhaps if he had no track record and was coming in as a fresh republican candidate.
                                                                                            Murdering of the budget surplus speaks much more than false promises of fiscal restraint.

                                                                                            Plus his budget is already out, there aren't any cuts in spending in it, cutting the deficit depends purely on increased tax receipts.

                                                                                            Bush also isn't that big a friend to free trade, he changed his mind a few times over steel tariffs until his hand was forced by the WTO..
                                                                                            Financial markets are pro Bush which should give the US $ a brief boost if he is elected...

                                                                                            Comment

                                                                                            • sacX
                                                                                              Confirmed User
                                                                                              • Dec 2002
                                                                                              • 2998

                                                                                              #47
                                                                                              Originally posted by xxxdesign-net
                                                                                              Financial markets are pro Bush which should give the US $ a brief boost if he is elected...
                                                                                              Well I disagree, but I could see you argue US finanical markets may be pro-Bush, but the dollar is traded on global markets who aren't..

                                                                                              I think finanicial markets are fairly ambivalent they're more worried about confusion on November 2, rather than who wins..

                                                                                              But I guess we'll see what happens
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                                                                                              • Gynecologist
                                                                                                Confirmed User
                                                                                                • Sep 2004
                                                                                                • 2184

                                                                                                #48
                                                                                                Again, why don't more of you guys just keep your money in a basket of currencies so that your remain even regardless of exchange rates?

                                                                                                Comment

                                                                                                • sacX
                                                                                                  Confirmed User
                                                                                                  • Dec 2002
                                                                                                  • 2998

                                                                                                  #49
                                                                                                  Originally posted by Gynecologist
                                                                                                  Again, why don't more of you guys just keep your money in a basket of currencies so that your remain even regardless of exchange rates?
                                                                                                  or hedge with options. I have about 1/3 of my USD hedged, which of course it not enough :/
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                                                                                                  • sacX
                                                                                                    Confirmed User
                                                                                                    • Dec 2002
                                                                                                    • 2998

                                                                                                    #50
                                                                                                    Originally posted by sperbonzo
                                                                                                    Why? The weak dollar is GREAT for the US economy. This makes our exports cheaper, and our businesses more attractive to foreign investment. The only way that the weak dollar hurts the US economy is that goods that we MUST buy in other currancies (not oil), are more expensive. The strong Euro, for example, is the reason why European exports are so down, and unemployment in big exporters like France and Germany is TWICE what it is in the US.
                                                                                                    Unemployment has always been almost double in europe what it is in the US. It's much more to do with layers of Government beauracracy than the current price of the Euro.

                                                                                                    A weak dollar is not good for the US economy. If the US was a primarily export economy then it would be a different story.
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