HOT DEAL - Canadian Dollar LOONIE ON SALE

Jan 7th, 2014 6:05 pm

#1

staffpro [OP]: Sr. Member; Sep 24, 2006; 965 posts; 176 upvotes; Collingwood

Jan 7th, 2014 6:05 pm

HOT DEAL - Canadian Dollar LOONIE ON SALE

wasn't sure whether to post this in the hot deal forum or here

but it seems the loonie is turning into TOILET PAPER especially today down 1.13% in one day over a cent. Weird considering we are not printing as much as our friends down south.

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Jan 7th, 2014 6:20 pm

#2

therollin: Deal Addict; Oct 9, 2012; 2916 posts; 783 upvotes; Toronto

Jan 7th, 2014 6:20 pm

OOS lol

Jan 7th, 2014 6:34 pm

#3

RogerLeblanc: Newbie; Dec 21, 2010; 67 posts; 22 upvotes

Jan 7th, 2014 6:34 pm

Title should say US deal only.
Lol!

Jan 7th, 2014 6:37 pm

#4

FiNaL WaR: Deal Addict; Oct 2, 2006; 1270 posts; 237 upvotes; Jan 7th, 2014 6:37 pm

got 16,000 euros keep dropping cad GO GO GO

Jan 7th, 2014 6:52 pm

#5

staffpro [OP]: Sr. Member; Sep 24, 2006; 965 posts; 176 upvotes; Collingwood

Jan 7th, 2014 6:52 pm

it's funny how with carney strong, with poloz the loonie is more toilet paper than the USD and the US is printing alot. Goes to show how much the world likes (dislikes) the loonie.

Jan 7th, 2014 7:29 pm

#6

staffpro [OP]: Sr. Member; Sep 24, 2006; 965 posts; 176 upvotes; Collingwood

Jan 7th, 2014 7:29 pm

Poloz must have worked as a toilet paper salesman before becoming chairman of the bank of canada

Jan 7th, 2014 7:35 pm

#7

tranquility922: Deal Expert; Sep 21, 2010; 15185 posts; 4624 upvotes; Montréal

Jan 7th, 2014 7:35 pm

Die CAD die!!!!!!

Jan 7th, 2014 7:38 pm

#8

Shadow Rider: Deal Addict; Sep 11, 2006; 2050 posts; 734 upvotes

Jan 7th, 2014 7:38 pm

It's not a sale if I can get it cheaper a month from now on clearance.

Jan 7th, 2014 7:41 pm

#9

staffpro [OP]: Sr. Member; Sep 24, 2006; 965 posts; 176 upvotes; Collingwood

Jan 7th, 2014 7:41 pm

at the rate its going down I might be wiping my *** with 5 dollar bills in the next few weeks...

Jan 7th, 2014 8:29 pm

#10

BryceS: Deal Addict; Dec 28, 2008; 1368 posts; 150 upvotes; Toronto

Jan 7th, 2014 8:29 pm

It is due to the large Canadian trade balance deficit that was much larger than expected.

Jan 7th, 2014 9:40 pm

#11

kenchau: Deal Guru; Apr 11, 2006; 10594 posts; 4559 upvotes; Mississauga

Jan 7th, 2014 9:40 pm

Raise the interest rates!!!

Jan 7th, 2014 10:46 pm

#12

ZenOps: Deal Addict; Nov 23, 2001; 4486 posts; 58 upvotes; Calgary

Jan 7th, 2014 10:46 pm

Bad deal. Canadian loonies made 2012 and later are mostly iron (and are worth about 0.4 cents)

Side note: Canadian 5-cent nickels made before 1981 peaked out at a metal value of 23 cents back in the year 2007.

A US nickel is worth more than 5 cents.

Jan 8th, 2014 12:19 am

#13

staffpro [OP]: Sr. Member; Sep 24, 2006; 965 posts; 176 upvotes; Collingwood

Jan 8th, 2014 12:19 am

kenchau wrote: ↑Raise the interest rates!!!

Poloz is too dumb to do that on his own. Carney at least had in the statements forward looking statements that rate would go up one day. Poloz wants Loonie to be toilet paper.

Jan 8th, 2014 1:04 am

#14

Mark77: Banned; Feb 15, 2008; 26318 posts; 3231 upvotes; Calgary

Jan 8th, 2014 1:04 am

BryceS wrote: ↑It is due to the large Canadian trade balance deficit that was much larger than expected.

In the short term, yeah. Over the medium to longer term, once the housing bubble starts to really implode on itself, it will be very difficult to keep the CAD$ down.

I wouldn't view what's happening as anything but short-term cyclical weakness. And of course, a great buying opportunity in the CAD$, and a great shorting opportunity for USD$ stuff. Take out some loans in USD$, and pay them back with more valuable CAD$ in the not-so-distant future.

TodayHello wrote: ↑...The Banks are smarter than you - they have floors full of people whose job it is to read Mark77 posts...

Jan 8th, 2014 7:40 am

#15

staffpro [OP]: Sr. Member; Sep 24, 2006; 965 posts; 176 upvotes; Collingwood

Jan 8th, 2014 7:40 am

Mark77 this is directly against Goldman Sachs position (long USD short cad) do you know something they don't? =D

Jan 8th, 2014 8:08 am

#16

MehtabSingh: Member; Sep 24, 2012; 347 posts; 30 upvotes; MISSISSAUGA

Jan 8th, 2014 8:08 am

I have always wondered that how come GBP has more value than CAD? What have they got that Canada doesn't? I feel like it is failure on BoC's part. If they increase the interest rate then overly inflated housing market bubble would burst as people would be unable to pay high interest.

Jan 8th, 2014 8:10 am

#17

Rothesay: Sr. Member; Oct 13, 2011; 766 posts; 501 upvotes

Jan 8th, 2014 8:10 am

staffpro wrote: ↑Mark77 this is directly against Goldman Sachs position (long USD short cad) do you know something they don't? =D

All a person need to do is do the opposite of what Mark77 suggest, and they would do really well financially.

+2

Jan 8th, 2014 8:16 am

#18

madara: Deal Addict; Sep 29, 2007; 2165 posts; 252 upvotes; Mississauga

Jan 8th, 2014 8:16 am

^ +1000000

Jan 8th, 2014 10:04 am

#19

kenchau: Deal Guru; Apr 11, 2006; 10594 posts; 4559 upvotes; Mississauga

Jan 8th, 2014 10:04 am

staffpro wrote: ↑Poloz is too dumb to do that on his own. Carney at least had in the statements forward looking statements that rate would go up one day. Poloz wants Loonie to be toilet paper.

Yeah, but even Carney, delayed rate increases time and time again. Concerns with Canadian record debt levels. Well all it did was allow Canadians to keep spending more and more on real estate, latest and greatest gadgets, etc. getting into even higher record debt levels.

Jan 8th, 2014 10:06 am

#20

kenchau: Deal Guru; Apr 11, 2006; 10594 posts; 4559 upvotes; Mississauga

Jan 8th, 2014 10:06 am

MehtabSingh wrote: ↑I have always wondered that how come GBP has more value than CAD? What have they got that Canada doesn't? I feel like it is failure on BoC's part. If they increase the interest rate then overly inflated housing market bubble would burst as people would be unable to pay high interest.

Well it would have to go through a few rounds of increases of a few points for that to happen. But really, who's fault is that - it's the people buying homes and not accounting for affordability should interest rates rise.