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Proud warmonger
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Discussion Starter · #1 ·
Hey lads

I thought it would be good to have this thread so we can keep track of how the Canadian dollar is going against other currencies.

Lately I have noticed that it's doing pretty badly - any reasons for that?

Today i was shocked to see that $1 AUD buys me 0.94 CAD cents that is so

much! they are almost reaching each other
 

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The Canadian dollar is connected to commodity prices and the US economy, both aren't doing very well right now.
 

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Proud warmonger
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Discussion Starter · #3 ·
The Canadian dollar is connected to commodity prices and the US economy, both aren't doing very well right now.
So does that mean that less canadians are going on holiday abroad lately?
Do you think people will take it out against the current government when it comes to the next election?
 

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I'm pretty sure less people are going out abroad world wide. I don't think people will punish the government for it, there are a slew of other reasons to kick out Harper at this point.

The Canadian dollar isn't too weak compared to the US, it seems it's the Australian dollar that has strengthened over the past few weeks. It is at about 81 cents US versus our 86 cents, and I'm pretty sure AUD was in the mid to high 70 cent range last time I checked.
 

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Proud warmonger
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Discussion Starter · #5 ·
I'm pretty sure less people are going out abroad world wide. I don't think people will punish the government for it, there are a slew of other reasons to kick out Harper at this point.

The Canadian dollar isn't too weak compared to the US, it seems it's the Australian dollar that has strengthened over the past few weeks. It is at about 81 cents US versus our 86 cents, and I'm pretty sure AUD was in the mid to high 70 cent range last time I checked.
When i went on holiday last year the AUD was shocking
it only bought me 69 us cents
and 78 canadian cents

so it definetely has improved a lot, hopefully it will stay like this at least until my next holiday
 

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Once oil starts to rise you can be sure to see the Canadian dollar going along for the ride as well. I tried to find an article I read in the Globe and Mail awhile ago that went over how the Canadian dollar is largely viewed as undervalued at the moment, but no such luck.
 

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aww oil is back to 72$ a barel and the cdn dallor shot back up to 90 cents but has gone back to 86 cents even though oil still going up ever so slightly

i remember when the dallor was at 60 cents us man did that hurt then
 

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~ Mysterious Entity ~
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Why is the $ CAD so often higher than the $ AUD anyway? Is there some fundamental economic reason for it?
 

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"The Ignorant Fool"
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Canadian dollar has weakened slightly versus USD and Aussie currency for two reasons:

1. commodity and energy prices are soft, and CAD has strong link to commodities, as it is an exporter of such.

2. Low interest rate yields (vs AUD and NZD).
 

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just got back from the states anyway i saw a pair of shoes at Winners before I left for $49.99 the same pair of shoes at ROSS was $16.99 - i was like wtf

anyway even with a "lower" dollar you can still do very well down in the states shopping wise anyway
 

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I get my shoes from Payless. Two pairs for $29.99, and you don't have to buy any more footwear for at least 18 months. :)
 

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Canadian eh!
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The Aussie dollar has struggled recently to stay above 80 cents on the dollar compared to the USA.

Against the Canadian dollar it is somewhat better but it has fluctuated quite a bit this year. Being a Canadian in Australia and dealing with the exchange on a daily basis through work it is interesting to watch.

I think as long as Canada continues to be tied to the USA strings financially our dollar will suffer. Maybe a common dollar with Australia and New Zealand would be the way to go. 60 odd million people would have a bigger Global impact?
 

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A common dollar in Australia and New Zealand makes a bit of sense, but between Canada, Australia and New Zealand?
 

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"The Ignorant Fool"
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A common dollar in Australia and New Zealand makes a bit of sense, but between Canada, Australia and New Zealand?
These countries all have separate currencies of course, but, because their exports are strongly commodity based, countries like Canada, Australia, New Zealand and Norway's currencies tend to move somewhat in tandem on the world foreign exchange markets in response to commodity prices. This link can be weak at times. The strength of the currency depends on alot of other factors as well, such as domestic interest rates, current account deficits, etc.
 

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And domestic interest rates and current account deficits are all things those individual nations deal with. If we have the same currency and one country racks up a huge debt, that will drag the others down.
 

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Urban Athiest
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hmmm...a shared currency is an interesting thought. The economies of the 3 countries seem to be superficially quite similar, although I'm sure there many differences once you look closer.

It would certainly boost tourist numbers between the 3 countries!
 
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