06-23-2016, 11:15 PM
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#2
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Scoring Winger
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The dollar is going down
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06-24-2016, 07:53 AM
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#3
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Franchise Player
Join Date: Aug 2008
Location: California
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Our dollar is pegged to oil.
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06-24-2016, 08:15 AM
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#4
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In the Sin Bin
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The CBC comments on this are hilarious. People whining that our economy is tied too closely to England if the Loonie went down as a result of this. well, yeah. Our strength is determined by price of oil, value of exports, and strength of rival currency. We're down vs USD for obvious reasons. But skyrocketing against the GBP.
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06-24-2016, 08:26 AM
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#5
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Franchise Player
Join Date: Aug 2002
Location: Calgary, AB
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Quote:
Originally Posted by Resolute 14
The CBC comments on this are hilarious. People whining that our economy is tied too closely to England if the Loonie went down as a result of this. well, yeah. Our strength is determined by price of oil, value of exports, and strength of rival currency. We're down vs USD for obvious reasons. But skyrocketing against the GBP.
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Pretty much this. The dollar is doing well against the Euro too.
When there's any uncertainty, everyone flocks back to the USD and to gold, and away from certain commodities, which causes a drop in the CAD relative to some currencies.
I suspect its a short term freak out, and once everyone realizes a Brexit will take years, things will normalize pretty quickly.
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06-24-2016, 08:27 AM
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#6
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#1 Goaltender
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Quote:
Originally Posted by Resolute 14
The CBC comments on this are hilarious. People whining that our economy is tied too closely to England if the Loonie went down as a result of this. well, yeah. Our strength is determined by price of oil, value of exports, and strength of rival currency. We're down vs USD for obvious reasons. But skyrocketing against the GBP.
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People who comment on CBC are the same types that would vote leave on Brexit. I never read comments there to keep my sanity 
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06-24-2016, 08:30 AM
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#7
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Franchise Player
Join Date: Aug 2002
Location: Calgary, AB
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Quote:
Originally Posted by Firebot
People who comment on CBC are the same types that would vote leave on Brexit. I never read comments there to keep my sanity |
They tend to be the worst examples of left and right wing ideology. If I ever want to lose faith in humanity, I read CBC comments.
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06-24-2016, 09:07 AM
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#8
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Lifetime Suspension
Join Date: Oct 2013
Location: 403
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The USD is doing well and will continue to do well for 2 reasons. The petrodollar and the US Military. There is more USD in circulation in just one OPEC nation than all the CAD outside of Canada.
Basically we cant compete with the US Dollar. It is a global currency. Used everywhere and most importantly for HUGE petroleum transactions daily across the globe. That tends to help a currency.
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06-24-2016, 09:27 AM
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#9
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In the Sin Bin
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Quote:
Originally Posted by Thunderball
They tend to be the worst examples of left and right wing ideology. If I ever want to lose faith in humanity, I read CBC comments.
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It is hilarious. There are still a bunch of morons blaming Harper for this, because they just can't get over the fact that the Liberals don't get to perpetually form government (until Trudeau rams electoral 'reform' through, at least), and then twits on the other side saying it's only a matter of time before Trudeau tanks the Loonie to the 63 cent mark Liberal governments want.
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06-24-2016, 09:41 AM
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#10
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Scoring Winger
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"Flight to safety" always happens to varying degrees when there is world turmoil (especially when it is unexpected).
The big players tend to move into USD, not for fundamental reasons but for the perceived stability of USD.
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06-24-2016, 09:49 AM
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#11
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Scoring Winger
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Who knows where the Canadian dollar is going? My guess it will drift in the mid/high seventies for the next 3-6 months and slowly climb after that as oil slowly gains strength.
My very likely to be wrong predictions:
Jan 2017 0.82
July 2017 0.85
Jan 2018 0.88
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06-24-2016, 01:22 PM
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#12
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Franchise Player
Join Date: Apr 2003
Location: Not sure
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Quote:
Originally Posted by cupofjoe
Who knows where the Canadian dollar is going? My guess it will drift in the mid/high seventies for the next 3-6 months and slowly climb after that as oil slowly gains strength.
My very likely to be wrong predictions:
Jan 2017 0.82
July 2017 0.85
Jan 2018 0.88
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Could you speed that up a bit, please? It's not helping me stretch my vacation dollar.
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06-24-2016, 01:40 PM
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#13
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Scoring Winger
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Lol, ya mine too.
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06-24-2016, 01:44 PM
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#14
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Franchise Player
Join Date: Mar 2015
Location: Pickle Jar Lake
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We planned a Canadian vacation this year because when we started looking the dollar had pretty much bottomed out.
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06-25-2016, 04:13 PM
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#15
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Basement Chicken Choker
Join Date: Jan 2007
Location: In a land without pants, or war, or want. But mostly we care about the pants.
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All I know is November 8th I intend to drive down to Montana; if Trump wins the US election I'm going to to buy Billings with my fat stacks of CAD and become a slumlord.
__________________
Better educated sadness than oblivious joy.
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06-25-2016, 04:31 PM
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#16
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Franchise Player
Join Date: Apr 2013
Location: Cowtown
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I got a Scottsdale vacation lined up for December, with a trump win I'll be getting double meat all week.
__________________
Quote:
Originally Posted by puckhog
Everyone who disagrees with you is stupid
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06-25-2016, 06:35 PM
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#17
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Crash and Bang Winger
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well I know that CAD is mostly a resource currency and that the BREXIT isnt a direct impact on CAD. I also know that money runs for safety to the USD in times of uncertainty.
what i dont know is how the runnup of USD, unrelated to matters with our resources, will impact our CAD.
by the way, are you guys suggeting a Trump win will cave the USD?
I get paid in USD so this is an interesting subject for me.
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06-26-2016, 11:07 PM
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#18
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First Line Centre
Join Date: Aug 2009
Location: Calgary
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Quote:
Originally Posted by Poster
by the way, are you guys suggeting a Trump win will cave the USD?
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i would say so. Trump adds uncertainty to the markets. There's no telling how far he's willing to make changes. It could be good though. He is a buissness man after all.
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06-26-2016, 11:22 PM
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#19
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Franchise Player
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Quote:
Originally Posted by stampsx2
i would say so. Trump adds uncertainty to the markets. There's no telling how far he's willing to make changes. It could be good though. He is a buissness man after all.
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Markets hate change, and Trump is different.
You can also make the argument that anyone who can lose money running a casino (multiple times) isn't much of a businessman, and probably isn't a great choice.
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06-27-2016, 09:31 AM
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#20
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In the Sin Bin
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Quote:
Originally Posted by Poster
what i dont know is how the runnup of USD, unrelated to matters with our resources, will impact our CAD.
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Slava or someone could explain better, as I'm just a layman, but basically, I believe it is just a matter of relativity. If the CAD is standing still, but the USD is moving up, the value of the Loonie falls because we're falling behind, essentially.
That's why we lost a couple cents to the US dollar but gained something like 15 cents on the Pound last Friday. We lost a bit with the fall of oil and because investors were fleeing to the safety of the USD, but the Brits were losing far more than we were, so it equated to a big gain, relatively speaking.
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USD vs CAD analysis
