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CAN $ vs US $

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  1. 10-10-2008 11:30 AM #1
    pgil
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    Default CAN $ vs US $

    last week at some point the exchange rate was at about 1.03-1.07. right now, 1 USD will buy 1.19 CAN. This is a massive change in a short period of time. Couple of questions.

    Is the CAN $ really that weak, or is the USD making some sort of rally?

    Is this trend likely to continue?

    Is our economy in as much trouble as this trend would seem to suggest?

    It is good in the short term, especially for those of us with bankrolls in USD, or who get paid in USD, but it is somewhat unsettling to see it drop so fast.
    "If you can't say f*ck, you can't say f*ck the government" - Lenny Bruce
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  2. 10-10-2008 11:45 AM #2
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    Default Re: CAN $ vs US $

    Quote Originally Posted by pgil
    It is good in the short term, especially for those of us with bankrolls in USD, or who get paid in USD, but it is somewhat unsettling to see it drop so fast.
    That's one thing I like about it! It's like poker decided to give me a raise.


    Quote Originally Posted by sauce123
    I don't get why you insist on stacking off with like jack high all the time.
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  3. 10-10-2008 12:52 PM #3
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    CDN is weakening vs USD because commodities are in freefall and CDN is a commodity currency, plus there is demand for USD. It's actually holding up well vs other currencies. Regardless, it's a great time to sell you USD for CDN for instaprofit. I can't imagine it weakening vs USD much further and if OPEC cuts production to shore up oil prices it might reverse, but all bets are off right now.

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  4. 10-10-2008 12:57 PM #4
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    Warpe (or someone else who knows more shit about financial mumbo-jumbo than I do):

    I'm planning on cashing out a fair chunk soon and am wondering if I should wait (like will the USD-CAD difference keep growing?) or should I just be happy that it's the largest it's been in recent history and cash out now?
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  5. 10-10-2008 01:07 PM #5
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    I work for a corporate currency exchange company, so I doubt you'll find a better source. Regardless, recent movements are unprecedented and nobody, repeat, nobody knows what's going to happen short term. OPEC has called an emergency meeting to discuss cutting production, although the decline in world oil demand might still trump them. Before the crash (yes, it's a crash) fundamentals said CDN should be trading about 10cents higher than it is now. We'll eventually reverse against the USD, possibly very quickly, so I'd take the money and run now.

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  6. 10-10-2008 01:17 PM #6
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    Quote Originally Posted by Warpe
    I work for a corporate currency exchange company, so I doubt you'll find a better source. Regardless, recent movements are unprecedented and nobody, repeat, nobody knows what's going to happen short term. OPEC has called an emergency meeting to discuss cutting production, although the decline in world oil demand might still trump them. Before the crash (yes, it's a crash) fundamentals said CDN should be trading about 10cents higher than it is now. We'll eventually reverse against the USD, possibly very quickly, so I'd take the money and run now.
    WORD.

    *takes the monies & run*
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  7. 10-10-2008 03:01 PM #7
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    Cashed out $4600 yesterday and now I'm thinking about cashing out some more.
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  8. 10-10-2008 03:25 PM #8
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    Watch oil. The correllation between oil and $CDN is very high, and if oil tanks more we could see more downside on the Loonie.

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  9. 10-10-2008 03:32 PM #9
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    I'm not Canadian & have no vested interest in this thread, but Warpe fucking rulez.
    Playing live . . . thanks alot Bin Laden.
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  10. 10-10-2008 04:01 PM #10
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    "take the monies and run NOW "

    +1
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  11. 10-11-2008 08:18 AM #11
    pgil
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    thnx warpe
    "If you can't say f*ck, you can't say f*ck the government" - Lenny Bruce
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  12. 10-11-2008 09:15 AM #12
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    Quote Originally Posted by Warpe
    Watch oil. The correllation between oil and $CDN is very high, and if oil tanks more we could see more downside on the Loonie.
    QFT oilsands
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  13. 10-11-2008 11:28 AM #13
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    yesterday the CAD made it's furthest drop in 38 years.
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  14. 10-11-2008 01:51 PM #14
    wufwugy
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    how much inflation does CDN experience?
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  15. 11-20-2008 11:38 AM #15
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    Today's a good day to sell USD.

    http://www.bloomberg.com/markets/currencies/fxc.html

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  16. 11-20-2008 11:45 AM #16
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    Quote Originally Posted by Warpe
    Today's a good day to sell USD.

    http://www.bloomberg.com/markets/currencies/fxc.html
    Damn you warpe! I sold at .86 and now it's like .777!

    (i joke)

    But seriously, I gots a USD check in the mailz and it better come quick (or the CAD better slide more)
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  17. 11-20-2008 12:29 PM #17
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    This is effin insane:


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  18. 11-20-2008 02:11 PM #18
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    I'm going to take his word for it and sell off another 33% of my roll.Thanks warpe!
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  19. 11-20-2008 05:46 PM #19
    daven
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    soaking up ethanol, moving on up
    the $NZ vs $US is doing equally crazy things - down side is that the withdrawals approval + bank transfer is taking 3-6 working days, last two $2k withdrawals have varied around 15% in what i receive in kiwi dollars.
    Be careful, and listen to Warpe!
    I've been thinking of abandoning poker for a while and switching to FX day trading - +EV?
    don't raise with the straight flush bro, nobody ever gonna call that shit
    allin, reload, repeat

    please read: http://www.philgalfond.com/lets-make-some-changes/
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  20. 11-20-2008 07:58 PM #20
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    Default Re: CAN $ vs US $

    Quote Originally Posted by Galapogos
    Quote Originally Posted by pgil
    It is good in the short term, especially for those of us with bankrolls in USD, or who get paid in USD, but it is somewhat unsettling to see it drop so fast.
    That's one thing I like about it! It's like poker decided to give me a raise.
    this makes me happy



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  21. 11-20-2008 08:34 PM #21
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    Jack-high straight flush motherfucker
    Warpe, you are the man.
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  22. 11-21-2008 12:25 PM #22
    2_Thumbs_Up
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    The dollar is the last bubble to burst. This rally is basically a get out of jail free card and it would be very wise to use it.
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  23. 11-21-2008 03:43 PM #23
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    God I remember the days of $1.57 candian to $1.00 US... loved going to Casino Windsor in those days...
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  24. 11-21-2008 11:46 PM #24
    pgil
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    Quote Originally Posted by Monty3038
    God I remember the days of $1.57 candian to $1.00 US... loved going to Casino Windsor in those days...
    It's pretty well back, come on over.
    "If you can't say f*ck, you can't say f*ck the government" - Lenny Bruce
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