Canadian dollar worth more than the US greenback A sign of things to come ?
Taken from Yahoo currency conversions
http://ca.finance.yahoo.com/currency/convert?amt=1&from=USD&to=CAD&submit=Convert
I imagine the manufacturing section is nervous - it had been selling to US markets with a 60 cent dollar for years now - That competitive edge is gone -
I can’t remember how many decades it has been since the Cdn dollar was worth more than the US
I do however know that the American merchant pretended not to know what a Cdn dollar was at that time - but when it returned to the US dollar being worth more all the tourist trade merchants remembered what a Cdn dollar was
I expect no less from them this time -
However - whats up why the drop in the value of the US dollar ?
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Could prove to be interesting.
Canada has done a good job under its previous Liberal government of paying down debt, signing huge contracts and trade agreements with many countries. Canada’s booming economy, no war to drag it down ( ‘cept the campers in Afghanistan ) helps. I’ve always felt the US dollar backed by the pentagon , severely over valued, and soon to be relegated to petrol dollar status. as more and more countries dump US dollars, and become less dependent on the petrol dollar, other countries will gain. Iran oil bourse could take another 8-15% bite out of the value of the petrol dollar once up and running, as all petrol transactions will be in Euros.
actually I just came back from Windsor, Ontario this evening (7-06) and the US dollar was worth $1.05 Canadian
our $ is worth a whole nickel more… ( whoop de do )as of noon today
tomorrow? anyones guess