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Old 10-09-2015, 11:10 AM
 
Location: Montreal
167 posts, read 104,914 times
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I have some US Dollars not much but i still wanna make the most of it.

CAD (Canadian Dollar) has been falling and was in the 0.75 USD = 1 CAD range but it has bounced up since yesterday and it's in the 0.77 range now.

I'm wondering if it's time to change the USD's I have or keep them till CAD lose value.
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Old 10-09-2015, 11:58 AM
 
10,847 posts, read 11,262,981 times
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Honestly it is anyone's guess. An economist doesn't have any better insights on this than a monkey.
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Old 10-09-2015, 12:49 PM
 
Location: Hougary, Texberta
8,593 posts, read 11,077,046 times
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Quote:
Originally Posted by jamesse View Post
I have some US Dollars not much but i still wanna make the most of it.

CAD (Canadian Dollar) has been falling and was in the 0.75 USD = 1 CAD range but it has bounced up since yesterday and it's in the 0.77 range now.

I'm wondering if it's time to change the USD's I have or keep them till CAD lose value.
The CAD will chase oil prices. Canada is an export economy, based almost entirely on O&G, Forestry, some light manufacturing and Hydro. Oil is up significantly this week, the CAD will follow along. I don't suspect that it will depreciate much further, unless you want to roll the dice for two weeks and see who wins the election. NDP get in, it will drop a lot.
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Old 10-09-2015, 01:41 PM
 
4,665 posts, read 2,640,154 times
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Also, if the Republicans win the presidency in the US, and Keystone finally gets the green light, that could effect the CAD positively. But that's a lot of "ifs." Who knows what oil prices will do and who will win the US and Canadian elections. I personally can't see the CAD losing more ground to the USD, but who knows. Historically once it gets this low, it generally tracks back up to be near even with the USD (and a few times has gone over the USD value). Not a bad idea to convert some USD to CAD right now, but I doubt I will...
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Old 10-09-2015, 02:10 PM
 
Location: Hougary, Texberta
8,593 posts, read 11,077,046 times
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Quote:
Originally Posted by Mattks View Post
Also, if the Republicans win the presidency in the US, and Keystone finally gets the green light, that could effect the CAD positively. But that's a lot of "ifs." Who knows what oil prices will do and who will win the US and Canadian elections. I personally can't see the CAD losing more ground to the USD, but who knows. Historically once it gets this low, it generally tracks back up to be near even with the USD (and a few times has gone over the USD value). Not a bad idea to convert some USD to CAD right now, but I doubt I will...
Being close to par is a new phenomenon. My entire childhood was spent at 80 cents or below. It wasn't until $100 oil that par came about.
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Old 10-09-2015, 02:12 PM
 
10,847 posts, read 11,262,981 times
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Quote:
Originally Posted by Mattks View Post
Also, if the Republicans win the presidency in the US, and Keystone finally gets the green light, that could effect the CAD positively. But that's a lot of "ifs." Who knows what oil prices will do and who will win the US and Canadian elections. I personally can't see the CAD losing more ground to the USD, but who knows. Historically once it gets this low, it generally tracks back up to be near even with the USD (and a few times has gone over the USD value). Not a bad idea to convert some USD to CAD right now, but I doubt I will...
this is not correct at all if you look at the entire history. Parity seldom occurs. It is by no means a long term average.
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Old 10-09-2015, 02:13 PM
 
10,847 posts, read 11,262,981 times
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Quote:
Originally Posted by mikeyyc View Post
Being close to par is a new phenomenon. My entire childhood was spent at 80 cents or below. It wasn't until $100 oil that par came about.
and oil has very little chance to get back to $100 again any time soon judging by demand and supply.

but still, who can tell.
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Old 10-09-2015, 03:08 PM
 
Location: Hougary, Texberta
8,593 posts, read 11,077,046 times
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Quote:
Originally Posted by botticelli View Post
and oil has very little chance to get back to $100 again any time soon judging by demand and supply.

but still, who can tell.
As someone who is living in that industry, no one is predicting $100 oil in the forseeable future unless there is a serious shooting war somewhere. There would be a lot of happiness at $60.
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Old 10-12-2015, 01:27 AM
 
Location: toronto
2 posts, read 1,130 times
Reputation: 11
change it now, don't wait anymore, another round of economic recession is coming.
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Old 10-12-2015, 09:19 AM
 
18,273 posts, read 10,374,392 times
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Originally Posted by edwinx View Post
change it now, don't wait anymore, another round of economic recession is coming.
Uuuh; change it to what?
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