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Canadian dollar will drop to 59 cents US in 2016, Macquarie forecasts
- Thread starter jokkir
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vainglorious
Member
PeskyToaster
Member
what is there even to visit in canada?
JordanN
Banned
Is that really a good thing?
U.S companies have come here before, taken over Canadian businesses and shut them down.
I agree completely, and a strong effort by him could have alleviated this a bit, but I guess I feel like there's only so much -any- prime minister can do to effect the economy. I'm hoping I'm wrong, because maybe that means Trudeau can do something, but I'm not optimistic.
Nothing but igloos
CosmicQueso
Member
Quebec City is a great place to visit!
Maybe when the Arizona Coyotes move there... although with this exchange rate, that's looking less and less likely o_0
crazyrabbits
Banned
We deserved this.
Thanks, Harper.
Thanks, Harper.
Depends on what you're looking for. When it comes to a touristy city, Toronto is good I guess, but I feel like it's better living here than visiting.
If you like nature, there are a lot of cool opportunities. I think this year I'll finally take a trip to the east coast and visit PEI/Nova Scotia. Maybe go whale watching, frolic in some fields, eat a lot of fish, get stared at by white people in small towns. That sort of thing
Had a lovely time in Montreal last year, and this is making me want to plan another trip in 2016. It's a 90 minute flight to Toronto, so I think I might set something up the next time the girlfriend and I have a long weekend. On one hand, I feel kinda bad taking advantage of the ridiculously lopsided exchange rate, but at least my tourism dollars are helping? I hope?
All depends on Bank of Canada's plan. If they go with negative interests, the Canadian dollar will sink further for sure, but I really doubt it would sink that low or take that long to recover.
We're not in a recession, our annual GDP growth rate is above 2% still. Canada is still AAA debt rated. So we'll spend our way out of this as already promised by the current majority government. A bunch of infrastructure projects will drive jobs to drive up consumer spending internally and ensure GDP isn't as tied to oil price.
From a personal standpoint, I wish the Bank of Canada matched the US fed interest rate increases so our dollar wasn't so bad as I'm traveling abroad. That's the big issue driving our dollar done, not the oil price crisis. The oil price crisis is what is causing our economy to stagnate with low growth or several recession quarters. So driving up interest rates would make that worse in the short term during the oil crisis, so it makes sense especially with the infrastructure spending . But that's what's driving our dollar down, it's the US fed rate increase and currency speculation.
Our dollar hasn't lost much value against the YEN or AUD in comparison as example. So it all depends on your perspective. But since US is our majority trading partner, it does dictate our currency's value.
We're not in a recession, our annual GDP growth rate is above 2% still. Canada is still AAA debt rated. So we'll spend our way out of this as already promised by the current majority government. A bunch of infrastructure projects will drive jobs to drive up consumer spending internally and ensure GDP isn't as tied to oil price.
From a personal standpoint, I wish the Bank of Canada matched the US fed interest rate increases so our dollar wasn't so bad as I'm traveling abroad. That's the big issue driving our dollar done, not the oil price crisis. The oil price crisis is what is causing our economy to stagnate with low growth or several recession quarters. So driving up interest rates would make that worse in the short term during the oil crisis, so it makes sense especially with the infrastructure spending . But that's what's driving our dollar down, it's the US fed rate increase and currency speculation.
Our dollar hasn't lost much value against the YEN or AUD in comparison as example. So it all depends on your perspective. But since US is our majority trading partner, it does dictate our currency's value.
Pandora012
Member
Yeah going to be heading there to for bit. So good news for me and not so good news for Canadian's
Dusk Soldier
Member
Apparently Canada has better strip joints than in the US. Our strippers are actually allowed to get fully naked, which I've heard some states have restrictions on how much they can bare.
Also, it's important for you to in Canada that strip joints are actually bars using some legal loophole or another feature strippers as entertainment.
All this basically means for you is that you must have a drink in your hands at all times. And if you're caught empty handed and refuse to buy one, you'll be escorted out.
PeskyToaster
Member
Ok that looks nice. Maybe I'll swing by before 2018 and bring my delicious american dollars.
Banff/Jasper is one of the most beautiful places on the planet
vainglorious
Member
Yo Canada is beautiful in the summer. Especially Nova Scotia - around Cape Breton. And you've got Haida Gwaii up in BC. And I love Niagra Falls, I've always had a blast on the strip there.
Canada isn't just Alberta lol
Although when my family from Alberta comes down to the USA in New England to visit they always freak the fuck out because they think it's too heavily wooded and get extremely claustrophobic lol
RumblingRosco
Member
Does Canada sell anything that is worth buying as an American? That sounds meaner than I intend, but you know what I mean.
Maybe time for me to take a vacation to Canada?
Maybe time for me to take a vacation to Canada?
Come sleep here guys!
Quebec City is a great place to visit!
Putting in that good fight to attract tourists to Canada so our dollar can go back up. I respect the hustle lol.
DJ_Lae
Member
Haha, having moved here to Alberta the other year, it's pretty bleak in terms of topgraphy. At least Banff and Jasper are part of Alberta, though, they're good places to unwind (along with countless other crazy people).
Could be worse. Could be Saskatchewan. Or Manitoba.
Shao Kahn Brewing a Stew
Banned
Anoregon
The flight plan I just filed with the agency list me, my men, Dr. Pavel here. But only one of you!
Come sleep here guys!
Quebec City is a great place to visit!
Sorry, I don't speak French.
Oh man, I forgot we had Saskatchewan and Manitoba.
Flying Toaster
Member
I need the real estate market to lower in Vancouver and Trump to be elected...
You know Canada is as geographically diverse as the US, right?
You can go from jungles to glaciers to deserts to lakes to oceans to whatever kind of geography you want.
Toronto is also the most culturally diverse city on the planet. Vancouver is like being in Asia as it is designed like Hong Kong, has an over 40% asian ethnicity demographic, and has luxury options you don't see in the US outside of SF, LA, and New York. It's also unique as you can go snowboarding and paddle boarding or jet skiing in the same day all via public transit if you wanted. So if you're an outdoor person it may be one of the best cities.
Eh? Less than 10 years ago 1 dollar Canadian was around 110 yen. This month alone we've fallen from 87 to 82 yen.
Begaria
Member
Hey now. What did we ever do to you?!?!
Welp, looks like we're going to be facing even worse prices for video games.
Sakura
Member
59 cents is too brutal for me. Gotta leave fast.
Canadian economy has been heavily dependent on natural resources for a long time. Oil was worth a lot of money, so companies were going to invest a lot of money into it, whether Harper was PM or not.
'Diversify the economy' is something easy to say but not exactly easy to do. The PM doesn't really have the power to control the value of the dollar that much. There isn't much Trudeau can do either, other than hope things get better/stable.
I dunno about AUD, but I remember the CAD being close to around 100 Yen in December 2014. Now it is around 80 yen, and that is with the Yen being so weak right now.
Canadian economy has been heavily dependent on natural resources for a long time. Oil was worth a lot of money, so companies were going to invest a lot of money into it, whether Harper was PM or not.
'Diversify the economy' is something easy to say but not exactly easy to do. The PM doesn't really have the power to control the value of the dollar that much. There isn't much Trudeau can do either, other than hope things get better/stable.
I dunno about AUD, but I remember the CAD being close to around 100 Yen in December 2014. Now it is around 80 yen, and that is with the Yen being so weak right now.
Shadow2222
Member
I think I will as well. I love Canada and it would probably be my first trip there where the US dollar was actually stronger than Canada's.
Vancouver is going to get worse before it gets better, as if Bank of Canada drops interest rates, it will drive foreign investment even more (not just from China). Vancouver also has the highest GDP growth in the country so it's not feeling any effect of the couple of recession quarters outside our dollar being low for purchasing imported goods / travel.
I agree with the second point. Trump's damage will be good for Canada just as Bush's damage was good for Canada.
gutter_trash
Banned
he bet all eggs into one basket (filled with oil) and one basket alone.
Harper was shortsighted, did not invest in infrastructure, did not invest on tech, did not invest on reknewables. Harper only cared about oil & gas alone.
now that the Saudi Arabian overlords are doing price fixing on oil, Canada is getting fucked
the Canadian dollar is a petro-dollar. If oil goes down, so does our dollar
God Dayumm
Banned
This might be year for my Toronto-Montreal-Ottawa-Quebec road trip
And increase the GST that the leftist want.
That's the thing though, oil price hasn't driven down our GDP growth enough to justify this currency valuation. The issue is the US economy at the same time and currency speculation that's driving it down. Not diversifying our economy was an issue but it's not the biggest issue. The biggest issue is the US recovery and that our dollar is too tied with theirs.
vainglorious
Member
Thank you Harper for making oil the foundation of our great economy!
They'll move the Winnipeg Jets to Las Vegas, Seattle, or Hartford (loool)
In seriousness, what this does mean I guess is that the salary cap won't increase as much and as fast as people thought it would a few years ago. I guess it could even go down?
They'll move the Winnipeg Jets to Las Vegas, Seattle, or Hartford (loool)
In seriousness, what this does mean I guess is that the salary cap won't increase as much and as fast as people thought it would a few years ago. I guess it could even go down?
That's already on the dock for this year. They have a committee in place. They just got the former Toronto police commissioner on to the committee. It's just a question of how long the process takes to determine how they regulate, but it's going to happen.
"Canadian political efforts, and Minister Joe Olivers speaking tours, choose to focus on denying climate change and promoting an unsustainable oil and gas sector dependent on government handouts."
Pretty much all you need to know. In the mid 2000s Harper decided the future of Canada was being a petro-economy.
I think currency traders have been saying "the Yen has to bounce back at some point" since the 80s.
According to the NYT, Toronto was in the top 10 of places to visit in the world. Southern Gulf Islands was 52 of 100.
Personally, I love the Sunshine Coast and Strathcona Park in the centre of Vancouver Island, Tofino and Gros Morne in Newfoundland.
Wonderful places.
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