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Old 08-31-2015, 03:35 AM
 
Location: Canada
5,747 posts, read 4,163,343 times
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I live on a border town and when the Canadian dollar is decent, we often go across once a week and shop for groceries in the states. There are many items we can't even get in Canada and the savings are well worth it.

What confuses me is that when our dollar is low, we hardly see any cars with American tags (lisence plates) over here doing the same thing.

I wonder if US citizens don't realize or don't care how much money they can save shopping in Canada when their dollar is so much better than ours?

Are they patriotic to the point that they don't want to spend their money in Canada, or do they not want to bother getting passports (thanks to 911) so they can cross back and forth?
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Old 08-31-2015, 04:12 AM
 
34,360 posts, read 41,436,735 times
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IMO I think Americans just arent made aware of the Canada/US currency exchange or fail to realize the economic implications of their dollar being worth 30% more than the Canadian dollar.
My usual forays into the USA for shopping are generally to get products unavailable in Canada and not usually about saving money but there is a limit when it comes to the exchange rate and at the moment theres too much of a difference..
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Old 08-31-2015, 04:14 AM
 
Location: Windsor, Ontario, Canada
11,265 posts, read 13,150,322 times
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Quote:
Originally Posted by gouligann View Post
I live on a border town and when the Canadian dollar is decent, we often go across once a week and shop for groceries in the states. There are many items we can't even get in Canada and the savings are well worth it.

What confuses me is that when our dollar is low, we hardly see any cars with American tags (lisence plates) over here doing the same thing.

I wonder if US citizens don't realize or don't care how much money they can save shopping in Canada when their dollar is so much better than ours?

Are they patriotic to the point that they don't want to spend their money in Canada, or do they not want to bother getting passports (thanks to 911) so they can cross back and forth?
Don't tell me you live in Windsor, because this would be news to me. Windsor is generally littered with American plates all the time. Even more so right now.

Last edited by Magnatomicflux; 08-31-2015 at 04:28 AM..
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Old 08-31-2015, 06:35 AM
 
Location: Seattle, WA
293 posts, read 932,632 times
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We just vacationed in Vancouver for a week. We definitely spent more than usual because of the exchange rate.
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Old 08-31-2015, 06:38 AM
 
10,847 posts, read 11,253,275 times
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Quote:
Originally Posted by BruSan View Post
Maybe so; but I've travelled all over the world and am now content to stay on one continent for the most part and am still finding new and interesting places to see every time I turn a corner.
no problem, Mexico is still on this continent and remains cheap. This continent had more than two countries.
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Old 08-31-2015, 07:19 AM
 
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I think Canadians should get used to the current exchange rate. The 90c+ era is long gone and I don't think it will be back any time soon, if ever in our life time. In the short term, as the economic conditions in both countries continue to diverge (Canada is on the fringe of a recession while US is growing strong), the USD will only get more expensive. If the Fed does hike rate in Sept, wait for the CAD to slide to the 60c territory.

It is almost laughable to see BOC cutting rate expecting to "boost investment". Do they really think cutting interest from 0.75% to 0.5% will do anything to help the economy?? Companies will increase investment and consumers will spend more? It is day dreaming.

Last edited by botticelli; 08-31-2015 at 07:48 AM..
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Old 08-31-2015, 07:27 AM
 
Location: East Coast
678 posts, read 691,850 times
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Quote:
Originally Posted by db108108 View Post
Yes. As a Canadian working in the US, with $44k in student loans, I am sending back as much money as I can while it stays this cheap.

*ducks*
I'm in the opposite situation :shoc ked:


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Old 08-31-2015, 07:29 AM
 
Location: Toronto
12,581 posts, read 11,130,951 times
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Quote:
Originally Posted by botticelli View Post
I think Canadians should get used to the current exchange rate. The 90c+ era is long gone and I don't think it will be back any time soon, if ever in our life time. In the short term, as the economic conditions in both countries continue to diverge (Canada is on the fringe of a recession while US is growing strong), the USD will only get more expensive. If the Fed does hike rate in Sept, wait for the CAD to slide to the 60c territory.

It is almost laughable to see BOC cutting rate to expecting to "boost investment". Do they really think cutting interest from 0.75% to 0.5% will do anything to help the economy?? Companies will increase investment and consumers will spend more? It is day dreaming.
Wow way to come to a conclusion like totally forever lol.. In our lifetimes? I think in the near future you're right and a lower CAD will be more long term but going beyond a few years in terms of any sort of prediction like this is just an exercise in futility that would require an excellent crystal ball..

Canada is in a technical recession and the jury is out if we will remain in one. I look at it more as a period of adjustment as we get used to a world with depressed oil prices. Canada has always been a pretty resilient and robust economy - sorry if I don't drive over a cliff there Botti.. There were probably a lot of cliff jumpers in the U.S a few years ago. Additionally, if the U.S economy remains strong this will boost exports to the country. The economy ebbs and flows so lets not lose our hair over this. If Canada is still in a recession a year from now and further i'll get back to you.
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Old 08-31-2015, 07:59 AM
 
Location: Hougary, Texberta
8,565 posts, read 11,065,012 times
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The exchange worked well in our favour when we came back to the Island and then over to Calgary in July. We're leveraging the strength of the USD even more this week. Singapore Air had a sale and I'm taking Mrs. YYC to Russia, where the Rouble has fallen off of a cliff.
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Old 08-31-2015, 08:01 AM
 
10,847 posts, read 11,253,275 times
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Quote:
Originally Posted by fusion2 View Post
Wow way to come to a conclusion like totally forever lol.. In our lifetimes? I think in the near future you're right and a lower CAD will be more long term but going beyond a few years in terms of any sort of prediction like this is just an exercise in futility that would require an excellent crystal ball..

Canada is in a technical recession and the jury is out if we will remain in one. I look at it more as a period of adjustment as we get used to a world with depressed oil prices. Canada has always been a pretty resilient and robust economy - sorry if I don't drive over a cliff there Botti.. There were probably a lot of cliff jumpers in the U.S a few years ago. Additionally, if the U.S economy remains strong this will boost exports to the country. The economy ebbs and flows so lets not lose our hair over this. If Canada is still in a recession a year from now and further i'll get back to you.
life time might be an over exaggeration (for some of people it could be true), I know, but if we look at historical exchange rate, the 90c+ is really very rare.

I don't claim to be an expert or have a crystal ball, but the reason behind CAD's high value in the previous years was oil price, now two factors make it less likely in the future (same for AUD)

1) China's growth slowed. I don't think it will revert to the consistent 9-10% growth any more.
2) the oil industry has experience some fundamental structural change. the US is becoming an export from an net importer.

I am not saying it is totally impossible - nobody can, but unless we have a strong growth engine as huge as China (India doesn't come close, Brazil/Russia are in recession), or there is some sort of huge disruption in oil supply, I just don't see how CAD can revert to its high level. Now is probably a bit of an oversold but 80-85c is probably reasonable.

Of course I totally want to have the 1:1 era back, not that I am particularly interested in visiting any part of the US any time soon (Ecuador uses USD too!)

I agree with you the Canada economy is resilient but it has always been. It is not something new so why do we expect high CAD compared with historical average? Canada didn't get comparatively stronger vis--vis the US. And we still largely depend on the US for exporting.
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