I was listening to 680 NEWS on my way to work this morning that Loonie (C$) rose upto US$0.995 level, a half cent below the parity. Now today at 11AM, it has rose again above the parity to USD for the first time since 1976. Yep Loonie and greenback are on level once again.
Now what would be the impact on the exports to US. All the lumber, crops, oil, technological and machinery goods and supplies and automotive exports. Also the call centers and tech support businesses, will they be effected. Since with equal dollar value, Canada will not be cheap for US firms IMO.
Re: Today Canadian dollar rose above US dollar after 31 years
Dont worry canada will soon be part of Alaska. You canadians have been away from the mother ship for way too long. Time to come back to lady liberty and pay your dues.
I say America should enslave the dumb ass Canadians.
Re: Today Canadian dollar rose above US dollar after 31 years
Why are people happy? A strong Canadian dollar is a bad thing for Canada.
There is a reason why China has been keeping its currency artificially weak. In today's world, it is better to have a weak currency since that makes exports and services cheaper for you.
Re: Today Canadian dollar rose above US dollar after 31 years
Maddy I agree, we are not in the same boat as China, but dependency is there and strong Loonie is a double-edge sord for us.
Whoever says buy dollar, its time to dump it bro. If anything you wanna buy, buy Euro or Chinese Yuan. China will have to relax its artifical controll over its currency in next two years under WTO.
Re: Today Canadian dollar rose above US dollar after 31 years
so not-true
How is it not true? Most of our export goes to the USA? Why? Because it was cheap for the Americans, not it won't be cheap and our manufacturers will not have a market.