HOT DEAL - Canadian Dollar LOONIE ON SALE

Jan 7th, 2014 6:05 pm

#1

staffpro [OP]: Sr. Member; Sep 24, 2006; 881 posts; 45 upvotes

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; 2789 posts; 652 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; 236 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; 881 posts; 45 upvotes

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; 881 posts; 45 upvotes

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 Guru; Sep 21, 2010; 13657 posts; 3700 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; 1663 posts; 489 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; 881 posts; 45 upvotes

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; 1359 posts; 144 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 Fanatic; Apr 11, 2006; 8157 posts; 2851 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; 881 posts; 45 upvotes

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; 3217 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; 881 posts; 45 upvotes

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