Canadian Dollar bout to leapfrog USD

[UDEric]

Just taking a quick look at the conversion charts on Kitco...looks like 1 USD = 1.0078 CAD. Just a week ago 1 USD = 1.03 or 1.04 in CAD.

The market, gold and silver continue to go up up up, while the USD index continues to go down down down. When the dust settles who knows where it will all be.

[AGCoinHunter]

Glad I have been saving all that Canadian money I find while roll searching.

[Nickelmeister]

You mean to say "the Canadian dollar is aboot to leapfrog the USD", eh?

[theo]

WOW. I remember when the CAD was worth .70 cents US. Also I think the Australian Dollar has gained about 10% on the USD over the past few months and the Swiss franc is now worth almost $1.05.

[Delawhere Jack]

I've been watching the Can/USD ratio for many months now. It seems to me that some "invisible force" is holding the Canadian $ back. It -- and the Aussie $ --should have driven past the USD by now. I'm also wishing that I had put a big chunk of cash into Canadian 5-6 months ago....

Canada, and Canadian banks are in much better shape that their southern neighbors.

[aloneibreak]

WOW. I remember when the CAD was worth .70 cents US. Also I think the Australian Dollar has gained about 10% on the USD over the past few months and the Swiss franc is now worth almost $1.05.

the two currencies im hoarding ...

[beauanderos]

WOW. I remember when the CAD was worth .70 cents US. Also I think the Australian Dollar has gained about 10% on the USD over the past few months and the Swiss franc is now worth almost $1.05.

the two currencies im hoarding ...

The two currencies Crazy Ray is hoarding... Silver and Gold

[horgad]

"I've been watching the Can/USD ratio for many months now. It seems to me that some "invisible force" is holding the Canadian $ back. "

That invisible force would be Canada itself. Canada exports a lot of manufactured goods to the US and they will lose a bunch of jobs (mostly automotive) if they let the Canadian dollar get too strong. The "problem" is Canada sells a lot of commodities (way more percentage wise than the US) and those commodities sales are keeping their books looking good and driving their currency up. So they intervene because of pressure from the manufacuring sector who wants as weak of a currency as possible...

My guess would be that Canada will continue to try to follow our currency down while at the same time (if they are smart) trying to open up more export markets for manufactured goods outside of the US. At some point it will likely become too painful to try and keep up with the slide in the US dollar. At which point they will cease intervening and let the chips fall where they may (stronger CAN dollar and lose of some jobs). (Some good news being those jobs might come back to the US assuming that there is any US economy left at that point.)

By the way, you can walk into just about any bank in Canada and open an account as a US citizen. They have everything set up with the US IRS to handle these types of accounts...

Australia too has a lot going for it...commodity exports and they are located close to the people who want them (Chinese). I am not sure how strong their motives are to keep their currency weak...not as in tune with their story as with Canada's.