Loonie hits parity (Cdn$ = US$)

[Newsjock]

Source: Globe and Mail

The Canadian dollar has broken through parity for the first time since Nov. 25, 1976.

The first official trade at parity took place at 10:58 a.m., said David Watt, senior currency strategist at RBC Capital Markets.

“The room is really buzzing and the U.S. dollar is weak across the board,” said Steven Butler, director of foreign-exchange trading at Scotia Capital Inc.

... On Thursday, the loonie jumped more than a penny as investors continued to shun the American dollar, which sank to a record low against the euro. Gold prices are trading at a 27-year high while oil is near a record.

... The U.S. dollar meanwhile fell to a new low against the euro on Thursday as the European currency breached $1.40 for the first time since its debut in 1999.

Read more: http://www.reportonbusiness.com/servlet/story/RTGAM.20070920.wdollar0920/BNStory/robNews/home

[DrDan]

1. damn . . . just as I am preparing to visit

BC in a few weeks . . .

[Suich]

37. I'm going up, too! On the 4th or 5th for Thanksgiving.

Do you have any idea if it's better to buy Canadian $ in the US or is it a better deal if you buy them in Canada? Or does it even make that much difference?

:shrug:

[DrDan]

39. I don't think it makes much difference

I usually buy when I get there.

But I use AMEX more. Seems to me the exchange rate is better if I charge and let AMEX convert rather than exchanging dollars.

I will be there just after Thanksgiving - by a day or so.

[saigon68]

2. $ US on way to becoming the yen of North Ameica

[martymar64]

38. More like the peso or the ruble

Fucking Rethug assholes, ruining our money.

[SidDithers]

3. Beat you by 9 minutes...

:)

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=1855617&mesg_id=1855617

I thought it might happen today, so I've been watching it closely on one of the forex sites that has streaming information.

Cheers.

Sid

[aquart]

4. So keep those Canadian pennies and quarters?

[mainegreen]

5. Sweet deal for our turnpike, which still redeems at 60-65% value!

I'm sure they want people to pay in loonies now!

[Radio_Lady]

35. That's comical, in its own way. Not really, but I've driven the Maine Turnpike

during 1972 to 1998 -- never as far as the Canadian border. Oh, I remember. I think we flew to Montreal once, and the second time we drove. Also, I must admit I was in Quebec City for my second honeymoon with my second husband! It's hard to keep track when you've had three husbands!

[bemildred]

6. Allow me to extend my congratulations to our Canadian friends.

For too long they have labored unsung in the shadow of the almighty dollar.
:applause:

[MetalCanuck]

12. We are not getting stronger unfortunetely..at least not as much as the ....

US dollar is falling.

[bemildred]

14. Yeah, I've watched it for a long time.

Still going from $.67 to $1.00 is a 50% bump.

[truthisfreedom]

7. Good for you, Canadians! This sort of thing can only help export companies.

God help the importers.

[leftist.]

8. What an incredible story!

I didn't know that this was coming simply because I hadn't been paying attention. What a disturbing(?) surprise this morning!

About 15 or so years ago my family moved to Toronto for a while and we exchanged X amount of dollars at some crazy rate, like 1.35. As a kid, I thought we were rich :) That wasn't that long ago either.

Wow.

[tabasco]

9. If the US dollar goes down much more they should put GW Bush's picture on it.

Maybe one of these:

[dipsydoodle]

16. Maybe this would be more appropriate

[tabasco]

18. Alfred E. Neuman is a frigging genius compared to Bush.

I think it is unfair to use his likeness in regards to Bush.

[saigon68]

22. I like this one better

[hunter]

26. He looks more intelligent as a monkey!

[CRH]

24. Better to put his picture on the dime, then it will always remind us ...

of the dime to a dollar bankruptcy settlement of old.

[lligrd]

49. I Vote For The Penny (As Irrelevant As He is ) With This Pic

or this one

[smoogatz]

10. There goes the last good reason not to move to Canada.

Damn. We just bought a house...

[TrogL]

21. Let me know when you're ready and I'll bring you up to speed

on immigration issues etc.

The house next to me is vacant.

[smoogatz]

23. How about Vancouver?

Vancouver seems very nice.

[TrogL]

25. Housing's too high

My former partner's parents live there and they're paying a fortune for a broom closet.

Alberta's booming right now.

Ignore everything you hear about Canadian weather. I used to live in Southern Ontario (northern California-type climate) and I actually prefer it in the Great White North.

[XemaSab]

31. Since when does Southern Ontario have a NorCal Climate?

:shrug:

[Canuckistanian]

40. It doesn't

Some of the lower parts of Ontario are actually further south than the northern border of California, but that doesn't mean it has the same climate. Not by a long shot.

[XemaSab]

41. That what I thought...

It's like California with about 6 extra feet of snow and 100 more days of below-freezing temps. :P

[smoogatz]

36. I'm not afraid of the cliamte.

Hell, I live in central Wisconsin. Colder'n a well-digger's ass, six months of the year.

If you could live anywhere in Canada, where would you go? I'm fond of coastal cities, but can live happily inland, too. I've been to Toronto and Montreal--they both seem very nice.

[Zhade]

47. Is that an open offer?

I don't have 10k, but pass the skilled worker test - how likely is it I can make it up there, or would I be denied without a job offer from a Canadian company?

[KaptBunnyPants]

48. With Harper there, why bother?

Our fundamentalists are exporting their craziness to Canada, it's simply not far enough away to be worth it.

[MetalCanuck]

11. I hope you guys are buying gold or silver right now...

You're money is crashing.

[TrogL]

13. It's not quite there

(added link)

See the Loonie Watch section of the daily market report.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x2998569#2998785

The December future loonie is beyond parity, but we haven't yet had a cash sale at par.

[SidDithers]

15. I think we did just before 11:00 am this morning...

forex boards are showing the USD low as $0.9999.

Sid

Edit: added link
http://www.fxstreet.com/rates-charts/currency-rates/symbol.aspx?id=USDCAD

[TrogL]

20. I think those are still bids and asks, not actual trades

Its the same numbers here:

http://www.fxstreet.com/rates-charts/forex-rates/

[SidDithers]

29. Gotcha..

thanks for clearing that up.

Sid

[jackster]

17. Thanks BooshCo!

:bounce:

[Sabriel]

19. Ouch. There goes the Grand Prix du Canada next year.

When we first started going, it was 69 to the dollar, which made it affordable and possible.

Forget that.

Thanks, Bush & Co.! One less thing to plan for....

[strategery blunder]

27. So will this actually be on the evening news?

Lord knows the major networks haven't reported a damn thing about the dollar declines. Most people I know are like, "ooh, the stock market is recovering--" with no clue that the recovery is in dollars that are falling almost as quickly as marks printed by the Weimar government.

[nealmhughes]

28. Well, I know very, very happy PhD students from Ontario in Alabama right now!

Sorry, Christian, no more bilingual funnies aimed at you and no more "what color is a fiver?" jokes Corrinne.

Mea culpa.

[Lisa]

44. if you want to make them laugh -- remind them that $USD is par with Canadian Tire money

That's an in-joke for us up here! (Canadian Tire is a national hardware store chain that issues coupons printed to look like money -- in denominations from 5 cents up to a dollar.)

[JBoy]

46. Ah yes, the emergency toilet paper in my glove compartment

[KamaAina]

30. Presenting... the Almighty Dollar

(pronounced "dawwww-ler" :-) )

[Liberalboy]

42. I love

My Loonies and Twoonies!

[JBoy]

45. Back before the loonie

?auAmqsLB8msAWfsT

and the toonie

?v=1173720184

[indepat]

32. Junior's fiscal and tax policies coupled with pre-emptive (never-ending) war might equal parity for

only a short period of time: at least we can sleep easy knowing Amurika is so much stronger and safer under junior's stewardship.

[hyphenate]

33. I've been watching this for awhile

And it sickens me to see it happen. But it's something we've got to face--and a lesson we're only going to learn over a long period of time.

What's interesting, though, is SO many things are priced higher on the Canadian side because there has always been a higher US dollar--now we're going to be seeing higher American prices to fare competitively with the new value of the Canadian dollar. And that's just going to start a price war the like of which the world has hardly ever seen.

[alcibiades_mystery]

34. So much for my whirlwind Montreal Strip Club Tour!!!

You see, with the coins....

[HuffleClaw]

43. woot !