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Old 10-25-2004, 03:39 AM   #1
Jay_StandAhead
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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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Old 10-25-2004, 03:48 AM   #2
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Pretty soon a dollar will be worth a dollar
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Old 10-25-2004, 04:48 AM   #3
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Its pissing me off!

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

Now its worth $2,442.00 CAD
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Old 10-25-2004, 04:54 AM   #4
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goddamnit.

i'm just gonna go back and work for the bank if it stays like this.
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Old 10-25-2004, 04:59 AM   #5
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Looks like it's gaining back some points it lost last night. I think once the elections over we might since a stronger USD.
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Old 10-25-2004, 05:02 AM   #6
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He Jay...

whazzzup.....better sell Euro now

Ciao
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Old 10-25-2004, 05:06 AM   #7
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doesn't help when the US government is essentially short the USD :/
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Old 10-25-2004, 05:09 AM   #8
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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.
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Old 10-25-2004, 05:42 AM   #9
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Damnit! I really miss the good old days when a U.S. dollar gave you $1.50 Canadian.
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Old 10-25-2004, 05:53 AM   #10
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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 :-)

Peace!
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Old 10-25-2004, 05:59 AM   #11
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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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Old 10-25-2004, 06:21 AM   #12
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This dollar shit is a fuckin' killer.
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Old 10-25-2004, 06:24 AM   #13
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Old 10-25-2004, 07:20 AM   #14
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Old 10-25-2004, 07:23 AM   #15
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Being in toronto and getting paid in american funds is getting sick. People stop having confidence in Canada LOL
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Old 10-25-2004, 07:26 AM   #16
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it's getting ridiculous. everyone getting paid in USD in Canada are getting a HUGE paycut courtesy of the exchange rate.
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Old 10-25-2004, 07:31 AM   #17
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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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Old 10-25-2004, 07:35 AM   #18
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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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Old 10-25-2004, 07:41 AM   #19
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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 ....
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Old 10-25-2004, 08:31 AM   #20
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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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Old 10-25-2004, 08:33 AM   #21
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Quote:
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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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Old 10-25-2004, 08:34 AM   #22
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Thanks George W Bush and your wonderfull team of assclowns
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Old 10-25-2004, 08:36 AM   #23
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suck my fucking cock george w bush!
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Old 10-25-2004, 08:56 AM   #24
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Quote:
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.
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Old 10-25-2004, 09:01 AM   #25
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Quote:
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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Old 10-25-2004, 09:05 AM   #26
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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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Old 10-25-2004, 09:05 AM   #27
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what currency do you recommend to buy atm?
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Old 10-25-2004, 09:08 AM   #28
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It's fucking depressing..... Bush needs to go.. the U.S need a new change and direction.....
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Old 10-25-2004, 09:25 AM   #29
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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 ....
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Old 10-25-2004, 09:30 AM   #30
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Sponsors, start paying me in CDN! lol
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Old 10-25-2004, 10:40 AM   #31
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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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Old 10-25-2004, 10:41 AM   #32
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COMMON baby hit 82 cents
whooza daddy
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Old 10-25-2004, 11:16 AM   #33
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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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Old 10-25-2004, 11:20 AM   #34
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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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Old 10-25-2004, 11:27 AM   #35
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This dollar shit is a fuckin' killer.
I agree
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Old 10-25-2004, 11:37 AM   #36
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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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Old 10-25-2004, 11:39 AM   #37
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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.

I see you too trade pips

O & A graph at its finest.
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Old 10-25-2004, 11:39 AM   #38
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Good thing, I did some exchanging yesterday via ATM. Still blows though
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Old 10-25-2004, 11:43 AM   #39
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That ain't shit for me the american dollar is only worth 100 pennies...
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Old 10-25-2004, 11:44 AM   #40
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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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Old 10-25-2004, 11:49 AM   #41
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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...
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Old 10-25-2004, 12:01 PM   #42
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Old 10-25-2004, 12:09 PM   #43
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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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Old 10-25-2004, 12:22 PM   #44
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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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Old 10-25-2004, 12:23 PM   #45
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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?
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Old 10-25-2004, 12:40 PM   #46
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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...
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Old 10-25-2004, 12:49 PM   #47
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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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Old 10-25-2004, 01:01 PM   #48
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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?
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Old 10-25-2004, 01:37 PM   #49
sacX
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Quote:
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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Old 10-25-2004, 01:40 PM   #50
sacX
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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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