Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post

MoneyGuy · 10-23-2008, 01:42 PM

I have done some economics study (some as part of the CFP program) and this is my take on the loonie's drop lately. Despite the woes in the States, investors are shunning energy and commodities as being risky (which affects the loonie), and taking refuge in the one currency that is seen as a safe haven - the greenback (sending it's price up). There may be more to it than that, but I think that is a big part of the answer. There may be an economist here who can provide a more full answer.

Gee, am I ever glad I opened a U.S.-dollar high-interest savings account and deposited about $15k when the loonie was trading above par with the greenback.

10-23-2008, 01:42 PM	#25
MoneyGuy Franchise Player Join Date: May 2006 Exp:	I have done some economics study (some as part of the CFP program) and this is my take on the loonie's drop lately. Despite the woes in the States, investors are shunning energy and commodities as being risky (which affects the loonie), and taking refuge in the one currency that is seen as a safe haven - the greenback (sending it's price up). There may be more to it than that, but I think that is a big part of the answer. There may be an economist here who can provide a more full answer. Gee, am I ever glad I opened a U.S.-dollar high-interest savings account and deposited about $15k when the loonie was trading above par with the greenback.