OT: start buying
09-18-2007, 03:54 PM
#3
Melting Slicks
The higher our dollar gets, the worse it gets for our manufacturing sector. More people buying from the US because goods are now relatively cheaper means bad news for our economy.
09-18-2007, 04:36 PM
#4
Le Mans Master
Thread Starter
09-18-2007, 04:49 PM
#6
Le Mans Master
Thread Starter
I was going to ramble on, but I don't want to start a debate.....at least buy some USD now for Carlisle. 
The Canadian dollar extended gains, surpassing 98 cents for the first time in three decades Tuesday after the Federal Reserve cut interest rates by more than expected and oil prices hit a record.
The currency rose as high as 98.64 cents (U.S.), up more than a cent from yesterday's close of 97.28 cents. It has risen almost 15 per cent this year against the greenback.
The loonie strengthened after the Fed cut interest rates by a greater-than-expected 50 basis points, the first cut since 2003. The Bank of Canada, by contrast, is expected to stay on the sidelines in the coming months, narrowing the interest-rate gap between the two countries.
“This was a positive for the Canadian dollar,” said Matthew Strauss, senior currency strategist at RBC Capital Markets. “The U.S. dollar is generally under pressure.”
The U.S. dollar hit a record low against the euro after the decision. Investors have been piling into the Canadian dollar as a safe haven in recent days, traders said.
“The tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally,” the Fed said in its statement.
The currency is now just two cents away from equal footing with the U.S. dollar, and has a good shot at getting there simply because it's becoming a self-fulfilling prophecy: so many investors are betting the currency will reach that level, they're helping push it along.
“It's been one-way traffic, and quite a momentum-building move,” in recent weeks, said Steve Butler, director of foreign-exchange trading at Scotia Capital Inc. before the Fed decision. He said he's been seeing more speculators in the market lately.
It's a sea change from several weeks ago, when a U.S. subprime meltdown caused the Canadian currency to wither as people shunned risk. That sentiment shifted after much weaker-than-expected U.S. reports on jobs and retail sales contrasted with Canada's strong economy, just as commodity prices took off.
The loonie also extended last week's gains as oil prices topped $81 a barrel for the first time Tuesday.
“The Canadian dollar is now resting close to its lows, supported by oil having reached yet another new high, and commodities continuing to be well bid,” Royal Bank of Canada said in a note.
Wheat prices are trading near a record, while gold soared to a 27-year high after today's Fed decision.
The Canadian dollar extended gains, surpassing 98 cents for the first time in three decades Tuesday after the Federal Reserve cut interest rates by more than expected and oil prices hit a record.
The currency rose as high as 98.64 cents (U.S.), up more than a cent from yesterday's close of 97.28 cents. It has risen almost 15 per cent this year against the greenback.
The loonie strengthened after the Fed cut interest rates by a greater-than-expected 50 basis points, the first cut since 2003. The Bank of Canada, by contrast, is expected to stay on the sidelines in the coming months, narrowing the interest-rate gap between the two countries.
“This was a positive for the Canadian dollar,” said Matthew Strauss, senior currency strategist at RBC Capital Markets. “The U.S. dollar is generally under pressure.”
The U.S. dollar hit a record low against the euro after the decision. Investors have been piling into the Canadian dollar as a safe haven in recent days, traders said.
“The tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally,” the Fed said in its statement.
The currency is now just two cents away from equal footing with the U.S. dollar, and has a good shot at getting there simply because it's becoming a self-fulfilling prophecy: so many investors are betting the currency will reach that level, they're helping push it along.
“It's been one-way traffic, and quite a momentum-building move,” in recent weeks, said Steve Butler, director of foreign-exchange trading at Scotia Capital Inc. before the Fed decision. He said he's been seeing more speculators in the market lately.
It's a sea change from several weeks ago, when a U.S. subprime meltdown caused the Canadian currency to wither as people shunned risk. That sentiment shifted after much weaker-than-expected U.S. reports on jobs and retail sales contrasted with Canada's strong economy, just as commodity prices took off.
The loonie also extended last week's gains as oil prices topped $81 a barrel for the first time Tuesday.
“The Canadian dollar is now resting close to its lows, supported by oil having reached yet another new high, and commodities continuing to be well bid,” Royal Bank of Canada said in a note.
Wheat prices are trading near a record, while gold soared to a 27-year high after today's Fed decision.
09-18-2007, 04:59 PM
#7
Melting Slicks
09-18-2007, 06:58 PM
#9
Melting Slicks
WooHoo !!
I just purchased an 05 Tahoe LT in Orlando for $20450 US...cost me $21268.00 Cdn.....gotta love it !!
Only bad thing is that our economy will hit the $hit tank once everyone starts going south....viscious cirlcle I guess
I just purchased an 05 Tahoe LT in Orlando for $20450 US...cost me $21268.00 Cdn.....gotta love it !!
Only bad thing is that our economy will hit the $hit tank once everyone starts going south....viscious cirlcle I guess
09-18-2007, 08:21 PM
#10
Le Mans Master
Thread Starter
That's my point.
when the buck was at $1.60 mfg. was booming.
now, wheat (farmers) are doing well, along with all of Alberta.
this is driven by the global market and the slowing economy in the US.
eventually we will tank, but for now, let us little guys enjoy,
we head south a few times a year to visit, or buy Vette parts,
so stock up on some US cash for when you need it.
BUBBAS
sounds like you got a sweet deal.
09-18-2007, 08:22 PM
#11
Drifting
Member Since: Jul 2005
Location: Oakville Ontario
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09-18-2007, 08:32 PM
#12
Safety Car
While having dinner I heard on the news that they estimate that the Canadian dollar will be higher than the US. Didn't say in what amount of time.
There are positives and negatives to the weak US dollar, all you can do is try to take advantage of the dollar when it's both weak and strong.
There are positives and negatives to the weak US dollar, all you can do is try to take advantage of the dollar when it's both weak and strong.
09-18-2007, 08:43 PM
#14
Melting Slicks
That's my point.
when the buck was at $1.60 mfg. was booming.
now, wheat (farmers) are doing well, along with all of Alberta.
this is driven by the global market and the slowing economy in the US.
eventually we will tank, but for now, let us little guys enjoy,
we head south a few times a year to visit, or buy Vette parts,
so stock up on some US cash for when you need it.
BUBBAS
sounds like you got a sweet deal.
I have purchased 4 vehicles in the last two years...(excluding the tahoe)
2000 Silverado Dallas Fort Worth...$9900.00
2001 Silverado 3500 dually New York...$11000.00
2002 Siverado 2500 HD Missouri...$10700.00
All the trucks were purchased for my lawn care company..
and of course my 01Z from New York..$28500 (two years ago)
All vehicles were purchased off of flea bay and all were pristine and in mint condition....buying vehicles in the US is the only way to go
09-19-2007, 06:25 AM
#15
Melting Slicks
Member Since: Sep 2002
Location: Engineers do it better.
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I still think USD is going to sink a bit more before it bounces back up. I am going to wait a little longer. I don't need that many 'parts' right now, Les
As far as manufacturing goes, I don't think US will be getting her share back either. China, India, and other lower cost countries are going to be major players in the manufacturing sector. US will have to eventually take over one of those countries to see any part of manufacturing As a Canadian supplier of automotive parts, we are really hurting...
As far as manufacturing goes, I don't think US will be getting her share back either. China, India, and other lower cost countries are going to be major players in the manufacturing sector. US will have to eventually take over one of those countries to see any part of manufacturing
As a Canadian supplier of automotive parts, we are really hurting...