I feel Awful for not Buying American Dollars

A

ACANA

New member
One Canadian  Dollar was $1.10 American two weeks ago and I did not even buy any. Damit, now it is down to 98c.
 
Nasha de har mor. I had a feeling it couldn't go any higher than that,. on that day. And althought I knew it would come down, I didn't realize it would take this fast.

Bsharfoukh what kind of currency is this (Both the US and Canadian) gaining and losing close to 15 cents in less than 2 months. That tells you there are some instability to both currencies or at least the American one.

I did buy some US dollars, but not much!

ASHOOR
 
If you knew what part of the business cycle we were in you'd be able to tell which direction the dollar would travel! :mrgreen:
 
David said:
If you knew what part of the business cycle we were in you'd be able to tell what direction the dollar would go! :mrgreen:
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Oh come on man, even top economists couldn't see this, or at least how short it took for things to go up and down again.

ASHOOR
 
Every economist I heard said the Canadian Dollar would stick at $1.05 or $1.10. Look at it now.

If you had bought $100,000 American you could have made $12,000 in one week. It is true what they say the rich always get richer.

 
ASHOOR said:
Oh come on man, even top economists couldn't see this, or at least how short it took for things to go up and down again.

ASHOOR
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You're kidding, right?
 
ACANA said:
Every economist I heard said the Canadian Dollar would stick at $1.05 or $1.10. Look at it now.

If you had bought $100,000 American you could have made $12,000 in one week. It is true what they say the rich always get richer.
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There you have it David, I am not making this up.

I am telling you, the US Dollar is sick these days, otherwise its fever wouldn't go up and down, 15 cents, in a matter of few weeks. This has never happened in history, with this magnitude.

So no cycle can explin this. I mean it can explain it in general, but not exactly.

ASHOOR
 
ASHOOR said:
There you have it David, I am not making this up.

I am telling you, the US Dollar is sick these days, otherwise its fever wouldn't go up and down, 15 cents, in a matter of few weeks. This has never happened in history, with this magnitude.

So no cycle can explin this. I mean it can explain it in general, but not exactly.

ASHOOR
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I guess the prediction we made in our business cycles class this semester meant nothing then. Oh yeah, and an article was published by both WSJ and Businessweek talking about the expected drop of the dollar. I will find them for you.
 
We know about the drop, but did they also expect a sudden rebound in less than 10 days?

ASHOOR
 
Ok sure that would be more accurate.

While I didn't predict a 'Sharp and Sudden Rebound', I knew that it would have to come back to its normal levels sooner or later. In fact, I was so sure about this, I asked many people the following questions:

"What a mess: Canadian retailers are lowering their prices to keep Canadian shoppers to cross to the States (given the new power of the Loonie) But what will they do when the Loonie is back to its weak position against the Greenback? I mean it is not like you can lower prices one day, and raise them back up the next day? with the exception of few things like Gas for example"

Canadian retailers now face this, and it is a problem they welcome. Last few weeks have been a hell for them, having to lower prices, and losing shoppers to American retailers.


ASHOOR
 
Ashoor ur so freakin smart...

i still have my american money in my american account not a lot because i spent 500 dollars american when i went to buffalo lmaooo no point but oh well
 
suprise suprise! Canadian Dollars is back above the US dollar again lol. What a joke seriously.

1 Canadian will get you about 1 Dollar and 2 US Cents.

ASHOOR
 
When will the Americans get their act together?  I have a heap of Japanese Yen that I want to convert into AUD but I have to wait for the USD to get its act together, before I can think about JPY. 

How complicated.
 
ACANA said:
Every economist I heard said the Canadian Dollar would stick at $1.05 or $1.10. Look at it now.

If you had bought $100,000 American you could have made $12,000 in one week. It is true what they say the rich always get richer.
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Real Talk.
 
Crocodile Bani said:
When will the Americans get their act together?  I have a heap of Japanese Yen that I want to convert into AUD but I have to wait for the USD to get its act together, before I can think about JPY. 

How complicated.
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I shall have a talk with daddy Bush and will see but if it gets its act together then i get a % of ur $$ :D deal ????
 
You must have missed my post on the Cht Chat section.  The Aussie dollar fell and I made an extra $18,000 profit.  So I cashed it in and bought myself a car, with part of the profit.
 
That is great Bani! Same here, the Canadian dollar has taken a nose dive, losing going from 1.15 to .85 USD. That is a loss of 30 cents on every dollar! in just about a year. So 100 dollars would get you some 30 dollars in profit.

I too have kept all my US dollars for the last year or so, and although it is not as much as yours, I too could make some profit.

ASHOOR
 
Aussie dollar has fallen even more than the exchange rate that I got it at.  Damn, if only I held off for another 2 weeks.  Then again, I needed a car.
 
JooJee said:
Bani, it looks like you're the only aussie actually benefiting from this!
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yes but I am selfish and money hungry, hence I claim grocery substitutes as a tax deduction (which is legal)
 
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