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[Ripclawe]

http://news.yahoo.com/s/afp/20100310/wl_canada_afp/canadaeconomyforexus_20100310191857

OTTAWA (AFP) – The Canadian dollar, or loonie as it is affectionately called here, is likely to soar above parity with the US greenback this year, experts at a Canadian bank said Wednesday.

Canadian Imperial Bank of Canada (CIBC) chief economist Avery Shenfeld said the Canadian dollar had already gained several cents in recent weeks as the market firms up expectations of an interest rate hike in July.

If as expected, the central bank "is out in front of the US Federal Reserve by a couple of quarters" in raising interest rates, the Canadian dollar could reach 1.02 dollars versus the US dollar by September, before dipping back to 0.97 dollars by year end," Shenfeld said.

The Bank of Canada has maintained its key lending rate at a historic low of 0.25 percent since April 2009 to help bolster a fragile economic recovery, but is widely expected to review its position mid-year.

CIBC said other factors were also aligning to push up the value of Canada's currency such as increased demand for oil, minerals and fertilizers; resurgent capital markets; and global debt fears.

"If the capital markets finally get an appetite for M&A (mergers and acquisitions) then Canada could be one of the first places to see the benefit of foreign inflows," said CIBC analyst Zafar Bhatti.

Or "if the investing world starts looking for a place to park capital in the wake of deteriorating sovereign credits then Canada would look very attractive," Bhatti said in a report.

Since the beginning of the year, the Canadian dollar has appreciated 2.5 percent against the US dollar and more than seven percent against the euro.

The loonie last achieved parity with the US greenback in 2008, and previously hit a record 1.10 dollars in 2007.

 

[Escape Goat]

America says canadian pennies really aren't that bad after all.

 

[Veritas_]

Word on the street is that the US Fed is getting ready to start moving interest rates back up. If that happens, it could push the Canadian dollar back down (slight US dollar appreciation.) Enough to off-set the gains made by the Loonie? Not sure.

/Armchair Economist

 

[BocoDragon]

I'm no economist, but won't the Canadian government then try and devalue the dollar on purpose in order to keep the flow of cross-border trade the same?

 

[Veritas_]

I'm no economist, but won't the Canadian government then try and devalue the dollar on purpose in order to keep the flow of cross-border trade the same?

Hmm, makes sense. Although I'm not familiar with the process they would take.

 

[giga]

Oh hoopla, just short term rate changes.

 

[Phobophile]

Oh hoopla, just short term rate changes.

Yeah didn't this happen back in late 2007/early 2008 for about 3 days?

 

[Veritas_]

Yeah didn't this happen back in late 2007/early 2008 for about 3 days?

Even this article isn't making it out to be some sort of long-term Canadian domination. They predict the Canadian dollar to be above parity for only September-January.

 

[koam]

Yeah didn't this happen back in late 2007/early 2008 for about 3 days?

Yes but months not days.

 

[Anth0ny]

Fuck yes. Black Friday, here I come.

 

[Slavik81]

Does it really matter if it's slightly above or slightly below? I've been treating them as more or less equal for a year or two now.

 

[RevoDS]

Does it really matter if it's slightly above or slightly below? I've been treating them as more or less equal for a year or two now.

In the real world, no since companies will keep raping us with still-higher prices than in the US as they did last time we hit parity. In terms of import/export, 0.97 to 1.02 is no different than 0.92 to 0.97 really.

It is encouraging however to see Canada beat the US somewhere It's always a big deal up here when we reach parity.

 

[Buba Big Guns]

Canadian dollar was at 1.10 a few years ago before the government had to drop it down.

 

[Shao Kahn Brewing a Stew]

Canadian dollar was at 1.10 a few years ago before the government had to drop it down.

I hope they don't this time. I want my cheap movies/games/electronics!!!

 

[ElectricBlue187]

In the real world, no since companies will keep raping us with still-higher prices than in the US as they did last time we hit parity. In terms of import/export, 0.97 to 1.02 is no different than 0.92 to 0.97 really.

It is encouraging however to see Canada beat the US somewhere It's always a big deal up here when we reach parity.

I can't tell you how depressing that makes life in Canada sound.

 

[ToxicAdam]

I remember when I used to go to Windsor to gamble and I could get a 1.40 for every dollar.

Lap dances for 7 dollars!

 

[Dipper145]

It is encouraging however to see Canada beat the US somewhere .

Sorry, but did you miss that gold medal hockey game?

 

[Doytch]

The M&A bit is interesting, seeing how the recent (abysmal) budget mentioned relaxing foreign investment in some areas.

 

[ElectricBlue187]

Sorry, but did you miss that gold medal hockey game?

Yes he probably did because like your loonie and all other things Canadian, Americans don't care about hockey

 

[Anth0ny]

Yes he probably did because like your loonie and all other things Canadian, Americans don't care about hockey

"Sunday's game (of 27.6 million viewers) drew a higher overnight rating than every World Series game since 2004 (including every game of Yankees/Phillies last year), every NBA Finals telecast since 1998, and every NCAA Men's Basketball Final Four game since at least '98."

 

[Gallbaro]

"Sunday's game (of 27.6 million viewers) drew a higher overnight rating than every World Series game since 2004 (including every game of Yankees/Phillies last year), every NBA Finals telecast since 1998, and every NCAA Men's Basketball Final Four game since at least '98."

That is because we where facing the canuks. in a once every 4 year face off.

Americans really do not care about hockey.

 

[ElectricBlue187]

"Sunday's game (of 27.6 million viewers) drew a higher overnight rating than every World Series game since 2004 (including every game of Yankees/Phillies last year), every NBA Finals telecast since 1998, and every NCAA Men's Basketball Final Four game since at least '98."

Wow high bar you've set there

allow me to retort...

http://www.nydailynews.com/sports/hockey/2010/03/06/2010-03-06_nhl_ratings_already_in_tank.html

 

[Canova]

Canadian dollar is also inching up closer to euro

 

[Decado]

I hope they don't this time. I want my cheap movies/games/electronics!!!

Only useful for those who are content to cross the boarder. Amazon's shipping charges and boarder fees kill purchasing that type of stuff online, IMO.

 

[RevoDS]

Yes he probably did because like your loonie and all other things Canadian, Americans don't care about hockey

Sorry, but did you miss that gold medal hockey game?

I'm actually Canadian. I knew we won against the US, but I indeed do not care about hockey and missed the game itself. And I said that because let's face it, no matter how overhyped it is, hockey isn't a very glorious thing to beat another country at.

Spoiler

Don't kill me, ROC-GAF!

 

[LCfiner]

Our dollar already passed the US dollar for a bit earlier last year. man, that was weird. :lol

I won’t be surprised if it happens again. but the gov’t will try to keep it down if it can. our exports are helped by a slightly lower dollar value.

 

[DogWelder]

I can't tell you how depressing that makes life in Canada sound.

Yes he probably did because like your loonie and all other things Canadian, Americans don't care about hockey

Wow high bar you've set there

allow me to retort...

http://www.nydailynews.com/sports/hockey/2010/03/06/2010-03-06_nhl_ratings_already_in_tank.html

You are the epitome of "not caring."

 

[jenov4]

I love it when it's at parity or above. It's something psychological about it.. just makes me want to spend. I'll definitely stock up on my USD (something I regret doing the last time) when it goes above. Shopping in the USA rules.

I love eating there too. Cheesecake Factory FTMFW!

 

[Meesh]

Sorry, but did you miss that gold medal hockey game?

aaaaaaaaaaaawyeaaaaaaaah!!! We almost lost...almost

 

[DevelopmentArrested]

CANADA F YEAH

 

[gutter_trash]

I just want to Euro to drop.. like drop big time.
Vacationing there since the adoption of the Euro has become an expensive pain in the ass.
-------
1.00 USD = 1.02630 CAD
hmmm time to drive to Burlington, Vermont

 

[Doytch]

Fuuuuck, I just remembered I'm waiting on the IRS to send me a fatass tax return from my time working there. ((

 

[Canova]

I love it when it's at parity or above. It's something psychological about it.. just makes me want to spend. I'll definitely stock up on my USD (something I regret doing the last time) when it goes above. Shopping in the USA rules.

I love eating there too. Cheesecake Factory FTMFW!

yup, can't wait till the U.S becomes Canada's Mexico, it's almost there

 

[explodet]

Colbert will be outraged!
http://www.youtube.com/watch?v=ytIE27Hto6c

 

[Cyan]

Guys stop with the hockey stuff you're gonna make the Canadians mad.

 

[Xeke]

The more I think about money the more crazy I think it is. Little pieces of paper based on nothing making or breaking your life.

 

[BladeWorker]

I'm no economist, but won't the Canadian government then try and devalue the dollar on purpose in order to keep the flow of cross-border trade the same?

I thought "devalue" meant "artificially inflate". In which case, no.

 

[AntoneM]

The Canadian dollar ... is likely to soar above parity with the US greenback this year, experts at a Canadian bank said Wednesday.

soar above parity with the US greenback this year, experts at a Canadian bank said

experts at a Canadian bank said

a Canadian bank

a

And this is cause for celebration? Not to mention that we haven't printed "greenbacks" since shortly after the Civil War.

 

[Slavik81]

Only useful for those who are content to cross the boarder. Amazon's shipping charges and boarder fees kill purchasing that type of stuff online, IMO.

Steam bills in US dollars. As does Impulse.

<3 digital distribution.

 

[krae_man]

I hope this means an end to $70 PS3/360 games.

That and $10/$20 premiums on Nintendo consoles.

 

[Willectro]

Blame Canada!

 

[TheQueen'sOwn]

I hope this means an end to $70 PS3/360 games.

That and $10/$20 premiums on Nintendo consoles.

Not bloody likely.

 

[Complex Shadow]

Guys stop with the hockey stuff you're gonna make the Canadians mad.

http://i43.tinypic.com/123s5jc.png

hey i don't care what you say but i like this boring land. so goddamn peaceful

 

[Chairman Yang]

The more I think about money the more crazy I think it is. Little pieces of paper based on nothing making or breaking your life.

It's not that crazy, and it's not really based on nothing. Like any medium of exchange, money is based on how much people value it.

 

[speculawyer]

Won't be the first time.

They are getting too many US dollars since we are addicted to their new-found oil riches.

 

[BloodySinner]

Guys stop with the hockey stuff you're gonna make the Canadians mad.

:lol :lol :lol

 

[Dipper145]

Yes he probably did because like your loonie and all other things Canadian, Americans don't care about hockey

He mentioned he was Canadian. We all care about hockey!

I'm actually Canadian. I knew we won against the US, but I indeed do not care about hockey and missed the game itself.

Maybe he's not a Canadian.

:lol @ comic

 

[Canova]

BAM!


http://finance.yahoo.com/q?s=USDCAD=X

 

[btkadams]

time to shop!!

 

[Haunted]

BAM!


http://finance.yahoo.com/q?s=USDCAD=X

welp

Canada > US confirmed.

You had a good run, boys.