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I actually did this once when our looney was flying high; hoarded as much USD as I can at the time.I am heading on a month long vacation and am loving the exchange rates.
Zulaika.. always hedge your bets by gobbling up USD when the CAD gains against the $
I've read some books before at the advice of people who are in financial management and none forecasted the current situation; some even told me the USD was near collapse and will enter a decline period...the Canadian central bank is killing your loonies just like they are doing in UK, EU japan etc, this is fiat money, it not money, best advise i can give you is buy gold and silver, always put 10-20% of your money on silver/gold - but this is along term strategy dont expect to see massive returns for months/years, your biggest experts have had slashed prices like oil and other resources and we are all victims of the going secretive currency war,How long is the CAD going to keep tanking against the USD? The election of the orange man seems to be helping it rise even further, on speculation alone without him assuming office yet.. and I hear he plans to kill a lot of trade deals with Canada... goodness what the heck is going on?
Money experts, please give me something to look forward to, this exchange rate is killing me, when I travel and change my money to USD... and sending money to folks back home
best thing you can do is learn economics and educate your elf, its better than asking someone for advice and and always being confused and clueless , here is the best book i can recommend for the laymen to learn about what is happening to the world financial markets and currency, yes they are more geared toward america but same principles apply
two names i can give you right now are peter schiff and james rickards economic books for non economist trained people, very good reads and lots of tips and knowledge on how to protect yourself from weaking currencies regardless of where you reside
https://www.amazon.ca/Crash-Proof-2-0-E ... ter+schiff
https://www.amazon.ca/Road-Ruin-Global- ... s+rickards
I hope it's better for the long run; trump with his nationalist agenda will likely try to discourage Americans from doing business with Canada and taking advantage of the low dollarCheap Canadian dollar is good for Canada's exports. It may hurt when you want to travel or sending money to relatives back home, but it would help many people in Canada employed. Look at the Chinese, they devalue their currency, so they can dump cheap Chinese products to America's markets, but at the end it means more Chinese working, having money to spend, and paying taxes back home.
Cheap Canadian dollar is good for Canada's exports. It may hurt when you want to travel or sending money to relatives back home, but it would help many people in Canada employed. Look at the Chinese, they devalue their currency, so they can dump cheap Chinese products to America's markets, but at the end it means more Chinese working, having money to spend, and paying taxes back home.
Then explain to us why every American administration is constantly negotiating with the Chinese government to stop devaluing their currency?Cheap Canadian dollar is good for Canada's exports. It may hurt when you want to travel or sending money to relatives back home, but it would help many people in Canada employed. Look at the Chinese, they devalue their currency, so they can dump cheap Chinese products to America's markets, but at the end it means more Chinese working, having money to spend, and paying taxes back home.
sorry dude, the biggest fallacy is that weak currency is good for export, its not true because the goods you export need raw materials you have to import to create those exports hence imports become expensive to buy from abroad thus the pointless policy of weaking ones currency to only find out your importing inflation. if you argue you dont need to import in order to export because you have all the raw material in your country, then you are you required to export since you have all necessary goods/materials in your country
sorry just proving your point, not taking a dig, it s common mistake all laymen make.
Says Inverse Law 101.
https://www.washingtonpost.com/news/won ... /11/china/The move could also mean increased competition for China's neighbors. A cheaper yuan would make Chinese goods more competitive with other exporting countries in the region, perhaps spurring them to devalue their currencies. Currencies in Thailand, the Philippines, Malaysia, Indonesia, South Korea, Singapore and Australia fell on Tuesday, as analysts questioned whether the move would spark a race to the bottom in currency wars.
In the United States, a cheaper yuan could weaken American exports to China, widening the already large trade deficit with China. And it will add fuel to the arguments of American politicians and businesses who claim the yuan is undervalued. It also might add pressure on the Federal Reserve to delay raising interest rates, as a rate hike would put upward pressure on the dollar and make U.S. exports even less competitive.
Efforts to print more currency and spur economic growth in Japan and Europe have already pushed the U.S. dollar to seven-year highs against those currencies. Now, with China, Japan and Europe all trying to devalue their currencies and spark growth through exports, the value of the U.S. dollar could rise enough to put breaks on the U.S. recovery, Diana Choyleva, chief economist at Lombard Street Research, said in an emailed response.
Then explain to us why every American administration is constantly negotiating with the Chinese government to stop devaluing their currency?Cheap Canadian dollar is good for Canada's exports. It may hurt when you want to travel or sending money to relatives back home, but it would help many people in Canada employed. Look at the Chinese, they devalue their currency, so they can dump cheap Chinese products to America's markets, but at the end it means more Chinese working, having money to spend, and paying taxes back home.
sorry dude, the biggest fallacy is that weak currency is good for export, its not true because the goods you export need raw materials you have to import to create those exports hence imports become expensive to buy from abroad thus the pointless policy of weaking ones currency to only find out your importing inflation. if you argue you dont need to import in order to export because you have all the raw material in your country, then you are you required to export since you have all necessary goods/materials in your country
sorry just proving your point, not taking a dig, it s common mistake all laymen make.
Says Inverse Law 101.
https://www.washingtonpost.com/news/won ... /11/china/The move could also mean increased competition for China's neighbors. A cheaper yuan would make Chinese goods more competitive with other exporting countries in the region, perhaps spurring them to devalue their currencies. Currencies in Thailand, the Philippines, Malaysia, Indonesia, South Korea, Singapore and Australia fell on Tuesday, as analysts questioned whether the move would spark a race to the bottom in currency wars.
In the United States, a cheaper yuan could weaken American exports to China, widening the already large trade deficit with China. And it will add fuel to the arguments of American politicians and businesses who claim the yuan is undervalued. It also might add pressure on the Federal Reserve to delay raising interest rates, as a rate hike would put upward pressure on the dollar and make U.S. exports even less competitive.
Efforts to print more currency and spur economic growth in Japan and Europe have already pushed the U.S. dollar to seven-year highs against those currencies. Now, with China, Japan and Europe all trying to devalue their currencies and spark growth through exports, the value of the U.S. dollar could rise enough to put breaks on the U.S. recovery, Diana Choyleva, chief economist at Lombard Street Research, said in an emailed response.
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