Is the Candian dollar getting stronger or is the US dollar getting weaker ?

Question

2 hours, 48 minutes ago



The Canadian dollar was worth a little more than the U.S. dollar in early afternoon trading Friday, despite a softer Canadian retail sales report for July.

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The loonie was trading at $1.0024 US at 12:30 p.m. ET, up 0.37 cents US from Thursday's close.


The Canadian dollar reached parity for the first time in almost 31 years on Thursday, as weakness in the U.S. greenback and higher oil prices gave the loonie the final push it needed to trade at par.

Will the Canadian dollar surpass the greenback and if so what results to both economiy's are likely ?

Golden

I forgot about that - "Sunday shopping" thing that used to happen

On one hand I go to Florida to spend money and enjoy some decent weather and escape winter etc

On the other hand - I condem Candians for shopping outside the nation (Buy Canadian the job you save may be your own)

But if my dear government raises my cig and beer taxes once more I will be in one of those parking lots -

I am not sure a "strong" Loonie is good for us Canucks it is going to be very tempting to purchase of the dollar remains at par

frog

My dad told me that when the Cdn dollar was worth 50 cents or so more than the US dollar - in the 50's that the US banks and so on would pretend not to know and would refuse to trade it for the worth determined by the world and so on if it wasn;t in their favour -

I expect a lot will do that again All Canadians will do is sell it to Cdn banks who will sell it to orginisations that have to obey the law

Answer 1

If we were compairing only the US and Canadian dollars only I might wonder but when other indicators conclude that the value of the US dollar has fallen against other currencies too it can be presumed that the US dollar has been falling.

Answer 2

Both. Canada is a resource rich country and has a lot of oil. With the price of oil going up, Canada's economy will boom.

The Canadian dollar will head higher against the US dollar, and look out for 1.20 US dollars for 1 loonie.

To grips: it's a good idea to invest in Canada, and Canadian resource companies, not just the currency.

Answer 3

The USA is blowing billions on the war in Iraq and Afghanistan. The most expensive thing a government can do is war. The more money going out, the less your country's money is worth. If a load of money is being spent, the country is less likely to pay back loans it took out (by selling bonds). Starting in the early 2000's, China started buying up US bonds. Theerefore, the Yuan rose in value. Another issue is social welfare and prisons. The US spends a lot of money on healthcare. Not as good as Canada's, but the USA has more people and greater rates of obesity. The US puts more effort into criminal justice and prisons, and prisons are expensive to run. To house a prisoner in a maximum security prison costs upwards of $200,000 a year.

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Answer 5

I live on the border and my U.S. bank won't take Canadian money on an even trade yet give me more for it. They won't even take a Canadian penny at all so I would tend to say the Canadian dollar is not worth more then the U.S. dollar.

Answer 6

The value of the dollar is getting weaker as it is dropping in value relative to most of the world's major currencies. To determine if the Canadian dollar is getting stronger, you would have to compare it to the rest of the world's major currencies and see what is the trend.
I means the cost of goods and services is about the same in both countries.

Answer 7

they built a mall here. a relatively small town at the time; big mall. every car in the parking lot had canadian plates. suddenly canadians stopped coming over, the money just too unequal. they still came down for gas at times, but that passed as well. then came the "heightened security" and incredibly long lines at the border and they stopped coming down at all.

if the dollar gets cheap enough i expect they will line up for the long wait for the savings.

you must remember bush learned his economics from dad, who learned from reagan who totally screwed up the american economy with his voodoo economics and the gang of thieves (bush and his family and friends) he let sack the treasury.

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Answer 9

The American dollar is getting weaker. Gold and the Euro are also going up in value.

Markets have always fluctuate. This is good news for Canada though.

Answer 10

It depends on how long it lasts. In the short term its good for Canada if it lasts long it will be bad for Canada since things will be cheaper to buy in the US any long term will be bad for Canadian business.