Canadian Dollar Breaks Above Parity Versus the U. S. Dollar
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Canadian Dollar Breaks Above Parity Versus the U. S. Dollar
Happy Loony unity day!
The Canadian dollar has broken above parity with the United States dollar. In New York trading at 10:59 am EDT, it cost 1.0004 US dollars to buy one Canadian dollar.
In May 2004, it cost just 72 cents to buy one Canadian dollar.
The Canadian dollar has broken above parity with the United States dollar. In New York trading at 10:59 am EDT, it cost 1.0004 US dollars to buy one Canadian dollar.
In May 2004, it cost just 72 cents to buy one Canadian dollar.
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So it guess it's not cheap to take a snowboard vacation to Canada anymore. I went a few years ago...it was cheaper to fly to Calgary, rent a car, and snowboard at 5 different mountains over 10 days and fly home (with hotels and food) than it was to drive to Mammoth or Tahoe and stay/snowboard for the same number of days.
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August of 2002 it hit the historic low of .617 US=1CDN, closer to .50 but still it never "tanked" that far.
Good for you to have invested, but I'd say given the current trends, I'd still be holding or buying Canadian, as the dollar is just starting the free-fall that recent fed moves have set us up for.
Good for you to have invested, but I'd say given the current trends, I'd still be holding or buying Canadian, as the dollar is just starting the free-fall that recent fed moves have set us up for.
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August of 2002 it hit the historic low of .617 US=1CDN, closer to .50 but still it never "tanked" that far.
Good for you to have invested, but I'd say given the current trends, I'd still be holding or buying Canadian, as the dollar is just starting the free-fall that recent fed moves have set us up for.
Good for you to have invested, but I'd say given the current trends, I'd still be holding or buying Canadian, as the dollar is just starting the free-fall that recent fed moves have set us up for.
The US dollar is becoming a joke, thanks to our wonderful leadership.
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Correction, thank Ben Bernanke, he's definetly no Alan Greenspan for sure. And for the most part, the Chairman of the Board of Governors of the Federal Reserve System works almost completely autonomously from governement influence. His sole job is to monitor the economy and adjust interest, reserve ratios, buying and selling of bond (money supply), etc... in the best interests of the U.S. He also prepares a bi-annual reports for Congress but other than that, he's the only one who can really use his brain without to much interference.
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Correction, thank Ben Bernanke, he's definetly no Alan Greenspan for sure. And for the most part, the Chairman of the Board of Governors of the Federal Reserve System works almost completely autonomously from governement influence. His sole job is to monitor the economy and adjust interest, reserve ratios, buying and selling of bond (money supply), etc... in the best interests of the U.S. He also prepares a bi-annual reports for Congress but other than that, he's the only one who can really use his brain without to much interference.
Sure he acts alone, but what he does is usually (lately) in response to bad fiscal policy by our wonderful leadership....
So, nobody thinks the real estate market (especially in Ca.) and interest rates(which have a direct correlation with the real estate market in this case) have anything to do with this? I thought we had some econ majors, mortgage reps and brokers here?
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