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

Pretty soon a dollar will be worth a dollar :(

Its pissing me off!

I remember when $2,000 USD was worth 3,000 CAD. :feels-hot

Now its worth $2,442.00 CAD :mad:

goddamnit.

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

http://www.taylorsmovies.com/dollar.jpg

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

He Jay...

whazzzup.....better sell Euro now :)

Ciao

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.

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

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!

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) :(

This dollar shit is a fuckin' killer.

:(

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

it's getting ridiculous. everyone getting paid in USD in Canada are getting a HUGE paycut courtesy of the exchange rate.

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.

http://www.adultnoobie.com/usdcad.jpg

So true. So sad :(

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 ....

don't forget europe, australia, new zealand... pretty much everywhere.

The US government doesn't borrow in euros, it issues USD debt, so your example doesn't fit.

Thanks George W Bush and your wonderfull team of assclowns :321GFY

suck my fucking cock george w bush!

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.

Well, money is nothing but paper and ink. They can print money like crazy to pay it all off :1orglaugh Only problem is the US dollar will go to hell.

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

what currency do you recommend to buy atm?

It's fucking depressing..... Bush needs to go.. the U.S need a new change and direction.....

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 ....

Sponsors, start paying me in CDN! lol

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 :mad:

COMMON baby hit 82 cents
whooza daddy

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.

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.

I agree

Man..this really fucking blows...wish I had exchanged all my USD to CDN back when the US dollar was worth $1.60 CDN...:mad: :mad:

I see you too trade pips :)

O & A graph at its finest.

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

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

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.

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...

:mad:

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..

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?

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 :)

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 :/

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.