Dollar continues to move upwards vs. US $ - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Sylvanfan · 10-12-2007, 03:36 PM

A bit of a continuation of this thread here...

http://forum.calgarypuck.com/showthr...=47038&page=15

But after holding at 1.02 all week it jumped after lunch and now is basically at 1.03. Almost to a point where we'll get parity on our credit cards with this BS 2.5% profit margin that our banks are dinging us with these days!

Read a couple articals on various sites talking that the U.S. dollar is likely to remain low for some time and likely will continue to get weaker. So some of those estimates of $1.05 by November may come true. I still don't think that it's particularly great news for our country since the U.S. is our main trading partner and that goods get sold in U.S. dollars. Still doesn't quite affect us as much as it could a place like Russia or Saudi Arabia who are buying things in Euro's and often selling it's goods in U.S. dollars.

mykalberta · 10-12-2007, 03:40 PM

I have also noticed alot of shops who used to be very friendly to Canadian shoppers are starting to put the screws on us.

Eastbay.com has added a UPS style brockerage fee of 26% for Alberta, more for other provinces just so the packages clear. Come on. I had a cart full for about $560 and then I get to the shipping and I was like wtf, a % brokerage fee - give me a break.

psicodude · 10-12-2007, 03:47 PM

So this begs the question...how long until Canadian car dealers make a massive price correction? I read an article yesterday that stated there have already been 160,000 vehicles imported into Canada from the States already this year. That is up the the average of 30,000.

My buddy's dad own the GM dealership in Brooks, and he says that GM Canada is treating the whole thing very seriously.

Quote:

Originally Posted by fotze

Anyone see those guys who had the idea on Dragon's Den to have an online currency exchange network that eliminated the banks so both the buyer and seller get a better rate?

Yup, and if memory servers, they got a deal as well. I can't remember the website though.

Bobblehead · 10-12-2007, 03:48 PM

Quote:

Originally Posted by mykalberta

I have also noticed alot of shops who used to be very friendly to Canadian shoppers are starting to put the screws on us.

Eastbay.com has added a UPS style brockerage fee of 26% for Alberta, more for other provinces just so the packages clear. Come on. I had a cart full for about $560 and then I get to the shipping and I was like wtf, a % brokerage fee - give me a break.

That seems bizarre to me. Heck, it should be easier to sell to Canadians now (since their goods are relatively cheaper to us), so they should be using this as a selling point..

Incinerator · 10-12-2007, 03:50 PM

Quote:

Originally Posted by psicodude

My buddy's dad own the GM dealership in Brooks, and he says that GM Canada is treating the whole thing very seriously.

They better treat it seriously, I have no plans on buying anything on this side of the borders anytime soon as long as I can get it from the states without too much hassle. If only there's an online US grocery/liquor store that delivers to Canada...

by the way those who sell on eBay must be getting killed by PayPal...

mykalberta · 10-12-2007, 03:52 PM

Quote:

Originally Posted by Bobblehead

That seems bizarre to me. Heck, it should be easier to sell to Canadians now (since their goods are relatively cheaper to us), so they should be using this as a selling point..

You would think, its been about 6 months since I last bought from them. I am thinking its more with border issues than anything but a % brockerage fee is just ridiculous. Especially when they offer same day free shipping in the US on orders over 99$

Sylvanfan · 10-12-2007, 03:53 PM

Quote:

Originally Posted by fotze

How much do you want to bet that the way this problem will be solved will be through the lobbying process resulting in barriers to importing cars from the US. You know GM isn't looking as hard at price reductions as it is at legislation.

Or just increasing their prices in the U.S!

Yeah, most likely pushing for some type of even out tax on vehichles that are imported back into Canada from the U.S.

Sample00 · 10-12-2007, 03:55 PM

Quote:

Originally Posted by fotze

Anyone see those guys who had the idea on Dragon's Den to have an online currency exchange network that eliminated the banks so both the buyer and seller get a better rate?

I caught that and quite the ingenious idea.
not sure I fully comprehended the concept, but if they can make that happen, it sounded like the exchange rate would certainly be more favourable

evman150 · 10-12-2007, 03:59 PM

Some American financial adviser in MacLean's last week (Oct 8) predicted C$1=US$2 within two years.

Now that would be weird.

Teh_Bandwagoner · 10-12-2007, 03:59 PM

You know how Arby's has that Pick 4 items for $6 here? It's pick 4 for $4 down in the States! And their Jr. Bacon Cheeseburger combo is $2.99 at Wendy's as opposed to $3.99 here! What up with dat??

But seriously, some friends and I were talking about taking a weekend flight down to the Seattle to shop. The low U.S. greenback plus the awesome outlet stores down there could more than make up for any flight ticket. I was down in the States a couple weekends ago for a wedding, and I bought a Hugo Boss suit that would normally cost $1000 up here, but was $400 at an outlet store in the States. That alone would be worth another trip down.

Flames_Gimp · 10-12-2007, 04:01 PM

Quote:

Originally Posted by psicodude

So this begs the question...how long until Canadian car dealers make a massive price correction? I read an article yesterday that stated there have already been 160,000 vehicles imported into Canada from the States already this year. That is up the the average of 30,000.

My buddy's dad own the GM dealership in Brooks, and he says that GM Canada is treating the whole thing very seriously.

Yup, and if memory servers, they got a deal as well. I can't remember the website though.

good, maybe that will force them to stop ripping off canadian car buyers.

Flames_Gimp · 10-12-2007, 04:02 PM

Quote:

Originally Posted by evman150

Some American financial adviser in MacLean's last week (Oct 8) predicted C$1=US$2 within two years.

Now that would be weird.

if by weird you mean awesome!!

4X4 · 10-12-2007, 04:06 PM

Quote:

Originally Posted by evman150

Some American financial adviser in MacLean's last week (Oct 8) predicted C$1=US$2 within two years.

Now that would be weird.

As amusing as it would be to see our dollar tower over theirs, it'd not be so amusing for our manufacturing industry.

Now, if we could make those kinds of gains against the Euro... Let's just say the villa in Italy I'd love to buy could become a reality.

Incinerator · 10-12-2007, 04:09 PM

Quote:

Originally Posted by Flames_Gimp

if by weird you mean awesome!!

no kidding, I'm bringing the biggest suitcase I have down to Florida with the Flames this December haha

Sylvanfan · 10-12-2007, 04:11 PM

Quote:

Originally Posted by Flames_Gimp

if by weird you mean awesome!!

It would be weird...and it would be a very bad thing for Canada's economy. I guarantee every oil, gas, lumber, mining operation would screetch to a halt as those goods are all sold in U.S dollars and no way they would take a 100% jump in production costs and continue operating. Take those bussinesses out of operation and the only thing left is government and tourism....and tourism would be non-existant too.

Sidney Crosby's Hat · 10-12-2007, 04:12 PM

Quote:

Originally Posted by 4X4

As amusing as it would be to see our dollar tower over theirs, it'd not be so amusing for our manufacturing industry.

Now, if we could make those kinds of gains against the Euro... Let's just say the villa in Italy I'd love to buy could become a reality.

I'm no economist but one thing I've never understood is with a weaker US dollar why don't we just charge more for an item or raw materials to make up the difference?

Resolute 14 · 10-12-2007, 04:13 PM

Or why we don't work at being more efficient, rather than let the dollar do the work for us?

Incinerator · 10-12-2007, 04:13 PM

Quote:

Originally Posted by Sidney Crosby's Hat

I'm no economist but one thing I've never understood is with a weaker US dollar why don't we just charge more for an item or raw materials to make up the difference?

Because the US suppliers are still charging the same thing, so the Canadian suppliers would be pricing themselves out of the market if they charge more?

Just my guess, I'm no economist either.

Flames_Gimp · 10-12-2007, 04:15 PM

I think it is a good thing to have a valuable dollar.

guzzy · 10-12-2007, 04:15 PM

Sadly most items in Canada will always be more expensive. We have terrible infrastructure and pay huge taxes on everything. The cost of doing business in Canada is quite larger than the US. The US interstates make moving products much cheaper than Canada's highways. Canada could learn something from the US when it comes to infrastucture.

I do agree that it would be nice to see some items even move closer to the US price. For example, my new Oakleys were $230 plus tax at Spare Parts. I went online at Oakley.com and the glasses were $155 US. On Oakley.ca they were $230 CDN. Needless to say, I bought them in Montana on my last visit. I do almost all of my clothes shopping down there because it is ridiculously cheaper for everything because they are not taxed to death down there.