Canadian Dollar Reaches New Heights: Time For a Donut?

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In summary, the Canadian dollar has been fluctuating against the US dollar and the Euro, with recent highs of 0.968617 cents US and 0.7 Euros. This sparked a discussion about the best place to buy donuts, with one person recommending Hostess donuts and another suggesting London as a destination but expressing concern about the exchange rate. The conversation then shifted to the impact of currency values on the economy and potential cuts to the US Federal Reserve's interest rates. It was mentioned that this may be influenced by recent events, including the Bank of England's rescue of Northern Rock and upcoming economic data. The discussion also touched on the benefits of a low Canadian dollar for manufacturing jobs and the potential for buying goods in other countries.
  • #1
oedipa maas
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The Canadian dollar hit 0.968617 cents US today. And it's been flirting with 0.7 Euros since the beginning of June.

I suddenly feel like going for a donut at Krispy Kreme.
 
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  • #2
oedipa maas said:
The Canadian dollar hit 0.968617 cents US today. And it's been flirting with 0.7 Euros since the beginning of June.

I suddenly feel like going for a donut at Krispy Kreme.

Eeewww, eat a real donut for God's sake.
 
  • #3
Dunkin Donuts? Krispy Kreme? Hardly.

You need to get those trans-fatty-acid soaked wonders from Hostess...
 
  • #4
I always admire how quickly threads get irrelevent.
 
  • #5
oedipa maas said:
The Canadian dollar hit 0.968617 cents US today. And it's been flirting with 0.7 Euros since the beginning of June.

I suddenly feel like going for a donut at Krispy Kreme.

I'm going to London for a month, not excited about the xrate :(
 
  • #6
Greg Bernhardt said:
I'm going to London for a month, not excited about the xrate :(

I feel for you there, Greg-- especially going to London as it's an even more expensive place to live than the rest of the UK. If it makes you feel any better, I've just been on a trip to the US and loved the exchange rate; everything was so cheap! :biggrin:
 
  • #7
Math Jeans said:
I always admire how quickly threads get irrelevent.

The value of national currencies isn't expected to remain up to date for long. Just like Krispy Kreme donuts don't stay fresh.
 
  • #8
oedipa maas said:
The value of national currencies isn't expected to remain up to date for long. Just like Krispy Kreme donuts don't stay fresh.

You need to freeze them and then microwave them for 30 seconds.

No wait, I'm talking about the British Pound.
 
  • #9
oedipa maas said:
The Canadian dollar hit 0.968617 cents US today. And it's been flirting with 0.7 Euros since the beginning of June.

is that a good thing?

irrelevent--->irrelevant
 
  • #10
cybernomad -
it means all the US-made junk costs less in Canada - Hostess cakes made in Albany sell for about 20% less than a year ago - to beat a dead irrelevancy into a pulpy mass.

Except that the Canadadian stores prolly still charge the same? The only way to win is to take Canada dollars South (inside a Visa card) buy stuff and go home.
 
  • #11
If the Fed cuts the discount rate next week, then the dollar will drop further.

It's good for those of us exporting goods and services overseas.

Many eyes will be watching Ben Bernanke.
Next week's meeting (September 18) of the US Federal Reserve's key interest rate setting group is looming as the most important for years.

At stake is the health of financial markets from bonds, interbank, shares, commodities and all those other outriders. But it has been overtaken by events: specifically the rescue by the Bank of England of Northern Rock plc, one of Britain's biggest home lenders.The Bank of England will reveal later Friday the terms of its rescue of Northern Rock, which has $US200 billion in assets, but which has been frozen out of the short-term markets by the credit crunch. The bank funds much of its home loan, credit card and other loan book from short-term markets and the rescue means that it is the first significant institution to ask for emergency aid, having exhausted all other options.The news will force the Fed's hand to cut cuts and the market is now punting on a half a per cent trim being the most obvious move, rather than the 0.25% tipped in a survey by Bloomberg. A clutch of statistics out in the US tonight, including retail sales, will also have a big bearing on the Fed's decision because they will give a reading on the state of the wider economy. Industrial production figures are also due.

http://www.acnnewswire.net/press/en/40921/Australasian-Investment-Review.html
 
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  • #12
jim mcnamara said:
cybernomad -
it means all the US-made junk costs less in Canada - Hostess cakes made in Albany sell for about 20% less than a year ago - to beat a dead irrelevancy into a pulpy mass.

Except that the Canadadian stores prolly still charge the same?

I was in the auto part manufacturing sector and enjoyed the low dollar of the 80's when US companies moved jobs north. I'm Canadian.


jim mcnamara said:
The only way to win is to take Canada dollars South (inside a Visa card) buy stuff and go home.

What of Mexico?
 

FAQ: Canadian Dollar Reaches New Heights: Time For a Donut?

What is causing the Canadian dollar to reach new heights?

The Canadian dollar is influenced by a variety of factors, including the state of the global economy, interest rates, and the demand for commodities such as oil and natural gas. In recent years, the Canadian economy has been performing well and the demand for Canadian exports has increased, leading to a stronger Canadian dollar.

How does a strong Canadian dollar affect the economy?

A strong Canadian dollar can have both positive and negative effects on the economy. On one hand, it can make imported goods cheaper and reduce the cost of borrowing for businesses. On the other hand, it can make Canadian exports more expensive and potentially harm industries that rely heavily on exports.

What impact does a strong Canadian dollar have on tourism?

A strong Canadian dollar can make travel to Canada more expensive for international tourists, which may lead to a decrease in tourism. However, it can also make travel for Canadians to other countries more affordable, potentially increasing outbound tourism.

Will the strong Canadian dollar last?

It is difficult to predict the future of the Canadian dollar, as it is influenced by many factors. However, experts suggest that the Canadian dollar may continue to perform well due to strong economic fundamentals and the potential for increased demand for Canadian exports.

How does the Canadian dollar reaching new heights impact the average Canadian citizen?

A strong Canadian dollar can have both positive and negative effects on the average Canadian citizen. It can make imported goods cheaper, reducing the cost of living. However, it can also make Canadian exports more expensive and potentially harm industries that rely on exports, leading to job losses. It can also impact travel and tourism, as discussed previously.

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