Loonie Hits 47-Year High; Update - Broke $1.10 today!

[Nehkara]

Loonie Hits 47-Year High

The Canadian dollar continued its upward charge Monday, reaching its highest level since March 1960.

The loonie was quoted at $1.0460 US in early-morning trading, up almost two-thirds of a cent from Friday.

That brought the Canadian dollar to within a cent and a half of its postwar high of $1.0614 US, set in August 1957.

Wow. It doesn't seem to be slowing down.


UPDATE (2007/11/02):

Canadian dollar sat well above it's post-war levels (1.0614) at 1.0718 this morning!

[The Goon]

I understand that this is the week that people are looking for the Canadian dollar to hit its all-time high against the US dollar. I think it's 1.06 and change.

[Machiavelli]

Yeah, I bought something on Ebay a couple of days ago and cried tears of joy when I noticed that I paid less than the US price.

It's a beautiful thing.

[Bobblehead]

I think I'm going to get off my behind and try to do as much of my Christmas shopping online as possible.

[4X4]

Time to start scooping up american real estate. Summer cabins and timeshares are going to fly off the shelves. I should buy my parents a house in Florida.

[Flames in 07]

Originally Posted by Bobblehead

I think I'm going to get off my behind and try to do as much of my Christmas shopping online as possible.

No rush in my opinion, as long as crude stays where it is, so with the FX rate.

[Azure]

Originally Posted by Bobblehead

I think I'm going to get off my behind and try to do as much of my Christmas shopping online as possible.

And by the middle of Christmas you'll regret doing it now cause the dollar will be sitting at 15 cents over.

[4X4]

Anyone think that canadian retailers are in for a verrry disappointing xmas season this year? Maybe that'll help adjust prices.

[Bobblehead]

Originally Posted by Flames in 07

No rush in my opinion, as long as crude stays where it is, so with the FX rate.

True, but you need to factor shipping times. Assume 6 weeks and you should be fine. I know most places are quicker than that, but as the recent cross-border thread mentioned, it can be longer, as well.

[return to the red]

looks like the wife will be getting a healthy assortment of goodies courtesy Victoria's Secret. Yay for me!

[Cowperson]

I think it's pretty ironic that gasoline, the one thing where there seems to be universal concensus that the price is rigged, seems to be the only product in Canada that appears to be reflecting the strength of the Canadian dollar versus the USA dollar.

Gasoline prices in Canada appear to be the same at $90 USA oil as they were at roughly $60 USA oil two years ago.

Cowperson

[Flames in 07]

Originally Posted by Bobblehead

True, but you need to factor shipping times. Assume 6 weeks and you should be fine. I know most places are quicker than that, but as the recent cross-border thread mentioned, it can be longer, as well.

fair enough, but then regardless of FX you should get after it now anyway.

I do most of my xmas shopping online, usually done ordering in late Sept. nothing worse than malls in December.

[Incinerator]

I'm starting xmas shopping today!

[Bertuzzied]

Anyone going to Asia better hit Hong Kong. Their economy is doing pretty well but they stupidly linked the Hong Kong dollar to the US dollar 15 years back.

$1cdn = $8.15hkd

Best place on earth to shop.

[Incinerator]

Originally Posted by Kobatuzzied

Anyone going to Asia better hit Hong Kong. Their economy is doing pretty well but they stupidly linked the Hong Kong dollar to the US dollar 15 years back.

$1cdn = $8.15hkd

Best place on earth to shop.

yup, even at $6.60 a year ago I lived like royalty there when on vacation

[Canada 02]

Originally Posted by Kobatuzzied

Anyone going to Asia better hit Hong Kong. Their economy is doing pretty well but they stupidly linked the Hong Kong dollar to the US dollar 15 years back.

$1cdn = $8.15hkd

Best place on earth to shop.

they have to live with the good and the bad. 10 years ago during the Asian Currency Crisis, Hong Kong was somewhat sheltered because they were pegged to the greenback.

Agree that it is a phenomenal place to shop. I really miss living there

[ken0042]

Originally Posted by Cowperson

I think it's pretty ironic that gasoline, the one thing where there seems to be universal concensus that the price is rigged, seems to be the only product in Canada that appears to be reflecting the strength of the Canadian dollar versus the USA dollar.

Gasoline prices in Canada appear to be the same at $90 USA oil as they were at roughly $60 USA oil two years ago.

I was noticing that the other day. It's good to see that happening.

[Bertuzzied]

Originally Posted by Canada 02

they have to live with the good and the bad. 10 years ago during the Asian Currency Crisis, Hong Kong was somewhat sheltered because they were pegged to the greenback.

Agree that it is a phenomenal place to shop. I really miss living there

Hmmm while it is a great place to shop and eat, I would never live there again. so hot and crowded and small.

I'm just bitter cuz my wife wouldn't let me book a hotel room and we had to stay in a 300 square foot apartment with my sister inlaw. haha. it felt like my bathroom was bigger then their entire condo.

So when are they going to lower interest rates here in Canada??

[metallicat]

It would be nice if more American companies were willing to sell to Canadians online. So many places are starting to completely block their American websites entirely from Canadian's.

[Incinerator]

Originally Posted by Kobatuzzied

Hmmm while it is a great place to shop and eat, I would never live there again. so hot and crowded and small.

I'm just bitter cuz my wife wouldn't let me book a hotel room and we had to stay in a 300 square foot apartment with my sister inlaw. haha. it felt like my bathroom was bigger then their entire condo.

So when are they going to lower interest rates here in Canada??

even hotels there are dirt cheap, tell Mrs. Kobatuzzied to live a little!