CAN $ vs US $

Printable View

10-10-2008, 11:30 AM
pgil

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.
10-10-2008, 11:45 AM
Galapogos

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.
10-10-2008, 12:52 PM
Warpe

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.
10-10-2008, 12:57 PM
d0zer

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?
10-10-2008, 01:07 PM
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.
10-10-2008, 01:17 PM
d0zer

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*
10-10-2008, 03:01 PM
JL

Cashed out $4600 yesterday and now I'm thinking about cashing out some more.
10-10-2008, 03:25 PM
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.
10-10-2008, 03:32 PM
Silly String

I'm not Canadian & have no vested interest in this thread, but Warpe fucking rulez.
10-10-2008, 04:01 PM
Alexos

"take the monies and run NOW "

+1
10-11-2008, 08:18 AM
pgil

thnx warpe
10-11-2008, 09:15 AM
Reidak

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
10-11-2008, 11:28 AM
BankItDrew

yesterday the CAD made it's furthest drop in 38 years.
10-11-2008, 01:51 PM
wufwugy

how much inflation does CDN experience?
11-20-2008, 11:38 AM
Warpe

Today's a good day to sell USD.

http://www.bloomberg.com/markets/currencies/fxc.html
11-20-2008, 11:45 AM
d0zer

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) :x
11-20-2008, 12:29 PM
Warpe

This is effin insane:

http://img89.imageshack.us/img89/769/uscdnpairgv8.jpg
11-20-2008, 02:11 PM
BankItDrew

I'm going to take his word for it and sell off another 33% of my roll.Thanks warpe!
11-20-2008, 05:46 PM
daven

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?
11-20-2008, 07:58 PM
meeloche

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
11-20-2008, 08:34 PM
Jack Sawyer

Warpe, you are the man.
11-21-2008, 12:25 PM
2_Thumbs_Up

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.
11-21-2008, 03:43 PM
Monty3038

God I remember the days of $1.57 candian to $1.00 US... loved going to Casino Windsor in those days...
11-21-2008, 11:46 PM
pgil

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.