US/Canadian Currency
 

This is sick, if the interest hike tomorrow doesn't kick up the US dollar, I'm selling all my US. I can't watch 18 more percent dissapear by spring.

The dollar is shit, i used to make kilelr profit, now i barely make a thing on exchange.

sell your US???

what the fuck.

don't touch it.

BUY SOME US with your canadian.

and hold on to it for a couple of months/years.

:Graucho

So we can all loose MORE money on it, sounds GREAT!!

It's like 81 cents now isn't it?

Canadian gov is on record saying they are most likely going to hike OUR rate in dec again. They feel the high dollar isn't hurting exports yet.

why would you lose more?

it will go up again one day or stay around the same as it is now.

In a perfect world, the Canadian dollar has to be worth 83 cents US.

Canada will not let it go much higher.
Remember we export 85% of what we make.

true.

but it will hurt when tons of people start loosing their jobs.

it's already happenning.

it's happened near where I live.

300 here, 150 there, etc.

watch it hit hard in the next year.

we are so fucked

:(

Even if it jumps up in the next year, I can think of a lot more secure ways to make 5%.

5%???

if you can just deposit it in a US account and not touch it that is your best option, IMO.

if you are worried, you can sell what you have now.
But will you keep converting every time you get paid?

that would be a big loss.

i watch that shit closely, i think it will keep droping... this summer it was 1.3, then 1.25, month ago 1.22, few weeks ago 1.2, right now it's at 1.18

i CANT WATCH it to keep going down :\ i think I might exchange it if it hits 1.15, they predicting it will be 1:1

I think it's a good idea to exchange right away, once you recieve payment. Unless you want to hold on to the USD for like more then 5-6 years maybe more.

Pretty fucked, an insightful american buying canadian dollars [who knew?] last summer could have made a killing inside a year.. .

What's killing me worse is holding US denominated stocks in my portfolio. The stock loss is directly proportionate with the rise in the CDN dollar. Ugh.

Probably more like 4 years or so...till the next election, one in which Bush won't be eligible.

If you believe the US dollar is still going to drop (as most economists..do), and you believe inflation is starting to creep into the economy, than you should look at buying gold stocks. They traditionally do well when the US dollar is falling and inflation is rising. The easiest, cheapest way to do this is to buy the iShares ETF that trades on the TSX and is an index of the gold stocks. I have recently sold off stocks of one of the banks and insurance companies I had and am picking away at both small cap mining exploration stocks and senior producers.

Wrong. The CAD is gonna keep rising untill it surpases the USD. Give it about 12-16 months. Bookmark this thread if you have to, but it's gonna happen and everyone who kept USDs hoping it'd go up again are gonna feel sorry.

All the information available is out there. Go read and learn about economics and why that shit's gonna go down.

Everyone can pretend that the problem won't get worse, denying the ovbious truth.

Canada's exports make for roughly 41% of our GDP, so we will get hit by a falling US economy, but not as hard as them. So in the end, the CAD will be worth more, or about the same as the USD.

It's going to take a while at least a year or more before you notice any improvements. It won't just go up for no reason.

I feel your pain man :-\

True if the Canadian economy keeps buzzing away, the US dollar will be worth less than Canadian dollar. Maybe within 2 years.

Even if the canadian economy can't maintain its current level, the US economy is gonna crash way more than our economy, hence a higher dollar.

I'd say we have till early 2006.

Its the US deficit that is the main culprit and the fact that instead of trimming it aggressively, they are spending like crazy with the war...and at the same time lowering taxes for some crazy trickle-down economic theory and inflation is starting to come back so the Fed has less wiggle room to stimulate the economy.

US dollar will definitely go down .

Yeah, that's big shit for Canadian webmasters.. We've lost 15% of our revenue over this year... :(

buy some USD puts, to hedge your USD.

tell me about it..who woulda thunk that it would drop this much??

Last year in Feb, I was getting 1.5% and now yesterday I chnged some funds over and it was 1.17%!!!! Not a good thing at all..

I wanna start making Euros and llbs!!:thumbsup