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pgil
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10-10-2008, 03:30 PM
Post subject: CAN $ vs US $
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#1 (permalink)
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Full House
Join Date: Jun 2005
Posts: 1,103
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last week at some point the exchange rate was at about 1.03-1.07. right now, 1 USD will buy 1.19 CAN. This is a massive change in a short period of time. Couple of questions.
Is the CAN $ really that weak, or is the USD making some sort of rally?
Is this trend likely to continue?
Is our economy in as much trouble as this trend would seem to suggest?
It is good in the short term, especially for those of us with bankrolls in USD, or who get paid in USD, but it is somewhat unsettling to see it drop so fast.
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"If you can't say f*ck, you can't say f*ck the government" - Lenny Bruce
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Galapogos
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10-10-2008, 03:45 PM
Post subject: Re: CAN $ vs US $
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#2 (permalink)
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4-of-a-Kind
Join Date: Jun 2005
Location: The Loser's Lounge
Posts: 2,322
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Quote:
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Originally Posted by pgil
It is good in the short term, especially for those of us with bankrolls in USD, or who get paid in USD, but it is somewhat unsettling to see it drop so fast.
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That's one thing I like about it! It's like poker decided to give me a raise.
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Quote:
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Originally Posted by sauce123
I don't get why you insist on stacking off with like jack high all the time.
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Warpe
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Moderator
Join Date: Sep 2005
Location: Canuckistan
Posts: 3,905
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CDN is weakening vs USD because commodities are in freefall and CDN is a commodity currency, plus there is demand for USD. It's actually holding up well vs other currencies. Regardless, it's a great time to sell you USD for CDN for instaprofit. I can't imagine it weakening vs USD much further and if OPEC cuts production to shore up oil prices it might reverse, but all bets are off right now.
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d0zer
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Moderator
Join Date: Jul 2007
Posts: 2,521
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Warpe (or someone else who knows more shit about financial mumbo-jumbo than I do):
I'm planning on cashing out a fair chunk soon and am wondering if I should wait (like will the USD-CAD difference keep growing?) or should I just be happy that it's the largest it's been in recent history and cash out now?
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Warpe
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Moderator
Join Date: Sep 2005
Location: Canuckistan
Posts: 3,905
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I work for a corporate currency exchange company, so I doubt you'll find a better source. Regardless, recent movements are unprecedented and nobody, repeat, nobody knows what's going to happen short term. OPEC has called an emergency meeting to discuss cutting production, although the decline in world oil demand might still trump them. Before the crash (yes, it's a crash) fundamentals said CDN should be trading about 10cents higher than it is now. We'll eventually reverse against the USD, possibly very quickly, so I'd take the money and run now.
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d0zer
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Moderator
Join Date: Jul 2007
Posts: 2,521
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Quote:
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Originally Posted by Warpe
I work for a corporate currency exchange company, so I doubt you'll find a better source. Regardless, recent movements are unprecedented and nobody, repeat, nobody knows what's going to happen short term. OPEC has called an emergency meeting to discuss cutting production, although the decline in world oil demand might still trump them. Before the crash (yes, it's a crash) fundamentals said CDN should be trading about 10cents higher than it is now. We'll eventually reverse against the USD, possibly very quickly, so I'd take the money and run now.
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WORD.
*takes the monies & run*
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JL
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Full House
Join Date: Jan 2006
Posts: 1,095
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Cashed out $4600 yesterday and now I'm thinking about cashing out some more.
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Warpe
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Moderator
Join Date: Sep 2005
Location: Canuckistan
Posts: 3,905
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Watch oil. The correllation between oil and $CDN is very high, and if oil tanks more we could see more downside on the Loonie.
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Silly String
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Full House
Join Date: Jul 2005
Location: KC, MO
Posts: 1,434
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I'm not Canadian & have no vested interest in this thread, but Warpe fucking rulez.
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Playing live . . . thanks alot Bin Laden.
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Alexos
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4-of-a-Kind
Join Date: Aug 2006
Location: Montreal
Posts: 2,766
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"take the monies and run NOW "
+1
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Nine to five is how to survive - I ain't trying to survive / I'm trying to live it to the limit and love it a lot //
Can offer RB deals on most sites, PM me.
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pgil
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Full House
Join Date: Jun 2005
Posts: 1,103
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thnx warpe
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"If you can't say f*ck, you can't say f*ck the government" - Lenny Bruce
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Reidak
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Flush
Join Date: May 2006
Location: Toronto
Posts: 566
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Quote:
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Originally Posted by Warpe
Watch oil. The correllation between oil and $CDN is very high, and if oil tanks more we could see more downside on the Loonie.
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QFT oilsands
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BankItDrew
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4-of-a-Kind
Join Date: Oct 2005
Location: Losing Prop Bets
Posts: 2,789
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yesterday the CAD made it's furthest drop in 38 years.
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Girlfriend: Why are the werewolves more important than living life?!
Girlfriend: Are you on the forums doing the werewolves again?
Girlfriend: Soo... you forgot to run that errand, but you had time to werewolf? Wtf?
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wufwugy
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4-of-a-Kind
Join Date: May 2006
Posts: 1,660
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how much inflation does CDN experience?
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Warpe
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Moderator
Join Date: Sep 2005
Location: Canuckistan
Posts: 3,905
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Today's a good day to sell USD.
http://www.bloomberg.com/markets/currencies/fxc.html
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d0zer
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Moderator
Join Date: Jul 2007
Posts: 2,521
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Quote:
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Originally Posted by Warpe
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Damn you warpe! I sold at .86 and now it's like .777!
(i joke)
But seriously, I gots a USD check in the mailz and it better come quick (or the CAD better slide more) 
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Warpe
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Moderator
Join Date: Sep 2005
Location: Canuckistan
Posts: 3,905
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This is effin insane:
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BankItDrew
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4-of-a-Kind
Join Date: Oct 2005
Location: Losing Prop Bets
Posts: 2,789
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I'm going to take his word for it and sell off another 33% of my roll.Thanks warpe!
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Girlfriend: Why are the werewolves more important than living life?!
Girlfriend: Are you on the forums doing the werewolves again?
Girlfriend: Soo... you forgot to run that errand, but you had time to werewolf? Wtf?
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daven
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Straight Flush
Join Date: Aug 2007
Location: soaking up ethanol, moving on up
Posts: 5,805
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the $NZ vs $US is doing equally crazy things - down side is that the withdrawals approval + bank transfer is taking 3-6 working days, last two $2k withdrawals have varied around 15% in what i receive in kiwi dollars.
Be careful, and listen to Warpe!
I've been thinking of abandoning poker for a while and switching to FX day trading - +EV?
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meeloche
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11-20-2008, 11:58 PM
Post subject: Re: CAN $ vs US $
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#20 (permalink)
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Join Date: Feb 2007
Posts: 2,131
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Quote:
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Originally Posted by Galapogos
Quote:
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Originally Posted by pgil
It is good in the short term, especially for those of us with bankrolls in USD, or who get paid in USD, but it is somewhat unsettling to see it drop so fast.
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That's one thing I like about it! It's like poker decided to give me a raise. |
this makes me happy
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Jack Sawyer
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4-of-a-Kind
Join Date: Jan 2007
Location: Old School
Posts: 2,535
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Warpe, you are the man.
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My dream... is to fly... over the rainbow... so high...
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VHS is like a book and a book is like a stack of kindles.
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Hey, I'm in a movie!
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2_Thumbs_Up
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Flush
Join Date: Apr 2006
Location: Sweden
Posts: 271
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The dollar is the last bubble to burst. This rally is basically a get out of jail free card and it would be very wise to use it.
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Monty3038
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Full House
Join Date: Jan 2008
Location: Ohio
Posts: 788
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God I remember the days of $1.57 candian to $1.00 US... loved going to Casino Windsor in those days...
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pgil
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Full House
Join Date: Jun 2005
Posts: 1,103
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Quote:
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Originally Posted by Monty3038
God I remember the days of $1.57 candian to $1.00 US... loved going to Casino Windsor in those days...
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It's pretty well back, come on over.
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"If you can't say f*ck, you can't say f*ck the government" - Lenny Bruce
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