Canadians....what's the best way to combat the stupid US dollar

[slim]

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Hedge with CAD futures?


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Know nothing about investing so not sure what fees would be like but I like it. Should probably ask this question in the finance forum get alot more accurate advise

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Unless you're sbrugby I rly dont think its worth it

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a few thousands of dollars is a lot to me to be losing for doing nothing but leaving it in ING.

Am I evil for hoping the CDN economy tanks and unemployment and Mortage rates rise? [img]/images/graemlins/crazy.gif[/img]

[cardman]

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Am I evil for hoping the CDN economy tanks and unemployment and Mortage rates rise? [img]/images/graemlins/crazy.gif[/img]

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Yup. [img]/images/graemlins/grin.gif[/img]

What kind of Canadian are you!? (laughing)

[SlantNGo]

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i hope you're right but on the news today they predicted parity by end of the year AND surpassing the British Pound eventually.

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I don't think you have to be worried about this. We can't ride the energy wave forever. Surpassing the US dollar, yes, the pound? I doubt it.

[Neonclaws]

Its pretty painful when you finish up a good session, look at how the exchange has moved on the day, and realize that you basically lost money. Can I blame Bush for this?

[brendanb438]

It is very obvious what you Canadians should do, give in and become the 51st U.S. State. Then exchange rate is solved, you can use the shiatty dollar like we do.

-Brendan

[hypermegachi]

it doesn't matter if the canadian dollar is strong (or US dollar weak).

you should still keep all your funds online in US. why? most places take a 2% "conversion" rate for you every time you deposit/cashout. there you go, you just lost 4% just by using a different currency.

it's better to take that hit once, rather than all the time.

[slim]

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it doesn't matter if the canadian dollar is strong (or US dollar weak).

you should still keep all your funds online in US. why? most places take a 2% "conversion" rate for you every time you deposit/cashout. there you go, you just lost 4% just by using a different currency.

it's better to take that hit once, rather than all the time.

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Thats true if I plan on using my US money on a poker site from my ING. But I haven't ever had to do that yet. The money on my Party acct should hopefully be enough that I dont need to make any conversions.

[EFT or Nothing]

Look on the bright side everyone -- any time you feel down just hop in the car, cross the border, and get your hands on some dirt cheap merchandise. Stuff is already cheaper in the US -- throw in a stronger CAD and they will be practically giving stuff away.

Does anyone here know if the CAD does stay so strong if we'll get a cut on prices in stores? I know, I know ... when do they ever lower prices. However things have been overpriced relative to the US for a while now. Goods seem to be priced in CAD for a CAD that's hovering around the 60% mark. With it hovering closer to 100% all of a sudden a car that's $5000 more expensive than it is in the US looks pretty unappealing. I know if the dollar falls again businesses get hurt but surely there has to come a point at which the markup for Canada becomes an issue? Anyone got any ideas about this side of things?

[PatInTheHat]

No but i've been thinking the same thing EFT or Nothing.

I think all we can do is keep cashing it out while it's a favourable exchange. Or start keeping it in USD and making frequent trips to the US to buy goods.

[nimajneb]

FWIW, from the G&M June 2, pg. B7 "Canadians start to put that high loonie to work"

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Forecasts for year-end 2007 and in 12 months


RBC 96.15 and 91.74

TD Canada Trust 96.00 and 94.00

Scotiabank 95.23 and 96.15 (Q4 08)

Ikon Global Markets 91.19 and 86.95

Avg. 94.76 and 92.21

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