US dollar is getting pounded

[Malibook]

Do you have even the slightest idea of what you are talking about?

So if they suggest a rebound in the Canadian dollar, where is the economy that will outperform the US with the same safety level?
EBS

What you are seeing is just a minor market correction...just like ebs said. Some dollar traders are dumping the US greenback for the funny coloured CDN money because our interest rate is higher and that is basically the only reason...

Live mid-market rates as of: Monday, May 21, 2007 - 11:36:11 AM EST

1 CAD
Canadian Dollar
1 CAD = 0.9222 USD = 0.9222 USD
United States Dollar
1 USD = 1.0844 CAD

This is quite the "minor market correction"!!

 

[Questor]

Live mid-market rates as of: Monday, May 21, 2007 - 11:36:11 AM EST

1 CAD
Canadian Dollar
1 CAD = 0.9222 USD = 0.9222 USD
United States Dollar
1 USD = 1.0844 CAD

This is quite the "minor market correction"!!

Thanks for bumping the thread. Its interesting to look back and see how wrong some people were in their predictions. I just wonder how long this can be sustained. It seems apparent that the CAD is riding on the strength of the Alberta economy, particularly the oil sands development. Meanwhile the job market is going into a tailspin in Ontario with the manufacturing sector tanking badly. Our economy is so dependent on export to the US, with the exception of oil and natural gas, it seems like the high dollar is going to bite us in the ass and bring a recession. Even though it will make my next trip more affordable, the trend can not be good for the long term health of the economy, even if the Alberta oil patch executives are happier than pigs in shit.

 

[onthebottom]

Thanks for bumping the thread. Its interesting to look back and see how wrong some people were in their predictions. I just wonder how long this can be sustained. It seems apparent that the CAD is riding on the strength of the Alberta economy, particularly the oil sands development. Meanwhile the job market is going into a tailspin in Ontario with the manufacturing sector tanking badly. Our economy is so dependent on export to the US, with the exception of oil and natural gas, it seems like the high dollar is going to bite us in the ass and bring a recession. Even though it will make my next trip more affordable, the trend can not be good for the long term health of the economy, even if the Alberta oil patch executives are happier than pigs in shit.

Hey, come on down, do some shopping, take in a show..... spend all you can down here.

OTB

 

[hunter001]

They should ajust the price of Oil for the loss in value of the American dollar.

One of the reasons for the price of oil rising is the dropping American dollar. As the American dollar drops the oil companies just raise the price of gas based on the rise in the price of oil.

Here in Canadian no one challenges the fact the prices aren't increasing as quickly as in the US because our currency has been rising in comparison. We just get made in US oil pricing...

 

[Questor]

Hey, come on down, do some shopping, take in a show..... spend all you can down here.

OTB

Thanks for the offer, but I think I will decline. I have managed to avoid the US, since the invasion and occupation of Iraq. I won't even fly on a US airline, even though it is cheaper than alternatives. I like to avoid supporting the war economy when possible.

My upcoming trip is somewhere that requires the conversion of CN$ to US$ before it goes to the local currency. Since the local currency mostly fluctates with the US$, our $ goes farther when the US$ goes down.

 

[onthebottom]

Thanks for the offer, but I think I will decline. I have managed to avoid the US, since the invasion and occupation of Iraq. I won't even fly on a US airline, even though it is cheaper than alternatives. I like to avoid supporting the war economy when possible.

My upcoming trip is somewhere that requires the conversion of CN$ to US$ before it goes to the local currency. Since the local currency mostly fluctates with the US$, our $ goes farther when the US$ goes down.

You're missing out on a lot of fun down here..... can't say I blame you on the airlines though, all of ours suck.

OTB

 

[frasier]

Thanks for the offer, but I think I will decline. I have managed to avoid the US, since the invasion and occupation of Iraq. I won't even fly on a US airline, even though it is cheaper than alternatives. I like to avoid supporting the war economy when possible.

My upcoming trip is somewhere that requires the conversion of CN$ to US$ before it goes to the local currency. Since the local currency mostly fluctates with the US$, our $ goes farther when the US$ goes down.

You seem to lead a rather complicated life. I wish i had the time to worry about those things..I am sure the US economy feels the pinch of your actions.
Canada is the largest US trading partner...be careful what you wish for..

 

[papasmerf]

The US dollar began to slip shortly after Bush too office in 2001. As you will recall the bulk of the EU was upset over Gore's loss. I believe they simply began investing in other than US companies and that began the slide. The Canadian dollar was bolstered.


Now conversely should the EU candidate for President win you will see a reversal.

 

[hunter001]

The "Fed" has also beening printing money at an alarming rating. That also leads to a large hit on the US $.

 

[emvee]

Let's let the loonie trade on par with the USD. How long do you think it will take before Canada looks like Argentina?

Apparently a long time, but I did have a nice Mendoza red wine with my steak this weekend.