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Canadian Dollar = US Dollar this week?

Discussion in 'TRIBE Main Forum' started by alexd, Mar 15, 2010.

  1. alexd

    alexd Administrator Staff Member

    Its really close to par now and some talking heads are saying on the financial cable channels that is will be at par this week! Excellent for ebay and amazon.com shopping!

    Some of these dudes are also saying that it will be 1.05 US for a loonie by the summer... Wow!
  2. Musical Rush

    Musical Rush TRIBE Member

    sweet now it's back to buying bully sticks for my dog on e-bay.
  3. chooch

    chooch TRIBE Member

    opened a USD account last week...can't wait to take full advantage of this!

    : )
  4. RumRogerz

    RumRogerz TRIBE Member

    although that sounds awesome, i still don't know how i feel about that.
  5. sianspherica

    sianspherica TRIBE Member

    The strong US dollar is ultimately bad for us. It's great if you are shopping in the States, and it's good for our sense of national pride ("Yeah, we're equal to the Americans! well at least our dollar is!")

    But otherwise, I don't see how it's this great news to be on par.

    Example #282828171761, I work for a large US financial institution. You think it benefits me when it gradually costs my US based employer more money to pay me? When the expendatures of our Canadian operations are 20% higher than 5 years ago as a direct result of the rising Canadian dollar.
  6. moose-meat

    moose-meat TRIBE Member

    Its great for me in Manhattan tomorrow.

    $300 US just cost me $314.

    That should last me a couple of hours. :)
  7. Hi i'm God

    Hi i'm God TRIBE Member

    If the Euro & Pound ect can be higher than usd then we can too.
  8. agentRC4

    agentRC4 TRIBE Member

    Not really.

    If you live in a province such as Quebec/Ontario that has a large Manufacturing base the high loonie will have a negative impact. However if you live in a province that relies on Natural Resources such as Alberta the higher loonie is an advantage for you.

    Its really a catch 22 as the importers love the stronger loonie and exporters hate it and visa/versa when the loonie dives.

    Also most large companies lock in their exchange rate for the year and may not be able to take advantage or be hurt by the rising loonie.

    Blue Jays lock into a rate at a specific time each year. So if the loonie gets to $1.10 by Summer they won't get the benefits of it.
  9. chooch

    chooch TRIBE Member

    when is the amero due to come into play?
  10. basilisk

    basilisk TRIBE Member

    3 years ago. Where were you?

    I am glad I am still doing business in Euros... made the switch last time CAD = USD, cash in various accounts hasn't lost value like it would if I had stuck with taking payments in American cash.
  11. praktik

    praktik TRIBE Member

    Never. The Americans are traditionalists like the English - the greenback is to the Americans like the pound is to Englishmen: part of their national identity.

    The most that would happen is the pegging of our currency to the American dollar, or perhaps (a big perhaps), Canada taking on the greenback here. This is contingent on Canada feeling that giving up our fiscal sovereignty has more benefits than detriments, but I can't even really envision a time or place where that would ever be true. Look how much better we weathered the financial crisis up here.

    American traditionalism will stymie any attempts to change their currency all that much.
  12. Bernnie Federko

    Bernnie Federko TRIBE Member

    the high loonie is bad for export biz (manufacturing, aka one of ontario's traditional strong suits)

    however, it will drive efficiency.
  13. Eclectic

    Eclectic TRIBE Member

    That and gas prices will go up as a result.
  14. mercure

    mercure TRIBE Promoter

    I remember arguing that same point a couple of years ago, saying it'd be good for our companies in the end because it'd force them to become more competitive and not just rely on a cheap currency. Looking at the damage to our manufacturing base over the last few years, I'm starting to wonder if there'll be much left to compete.
  15. Snuffy

    Snuffy TRIBE Member

    Why couldn't this have happened the last time I went to San Fran in 2004? I nearly cried when I discovered that my Canadian Dollars were only worth about 65 cents. It made me feel blue all through my trip until I discovered $2 corner-store vodka mickeys.
  16. kyfe

    kyfe TRIBE Member

    i love this vegas 07, hawaii 08 and miami 2010, every time the dollar has been close or above par for my vacations!
  17. skin deep

    skin deep TRIBE Member

    I always thought that the Americans were also on the edge of their seats when the currencies neared parity, but they for the most part don't give a shit.
  18. kyfe

    kyfe TRIBE Member

    they are probably pretty happy, at least the boarder communities and the snowbird vacation spots. It will be a nice injection into their local economies
  19. skin deep

    skin deep TRIBE Member

    For sure, but the level of excitement doesn't even compare to the Avatar-esque hype in Canada whenever parity looms.

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