Dive dive dive!!! (USD -> CDN)

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jaygen

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Jun 29, 2007
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Toronto, ON
I hope the Canadian dollar FUCKING PLUMMETS. Canadian affiliates and other
exporters have been suffering through this parity bullshit for long enough!

ALL HAIL THE MIGHTY USD.

:bowdown::bowdown::bowdown:
 


I've done a little currency trading in my time, and I've been told that the Canadian economy can't support an even swap with the dollar.

Based on the current charts, it could stall for awhile around where it's at, or head to the monthly line of 1.1366 or weekly Resistance 3 of 1.1538 in the short term maybe in the long run it could head back to a 1.3300 - 1.3500 area.

These number are the USD/CAD, so a 1.3300 is the dollar meaning the CAD would be 0.67 on the dollar.

However, they do have alot of manufacturing and exports in the country, so during an american recession, they could potentially prosper because they are producing goods to ship out of their country.

Nobody ever knows for sure. Especially me.
 
Fatbat said:
I'm Canadian, but I live in Europe. I'll tell you what sucks; living in Euros and getting all your affiliate earnings in US dollars.
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Or living in the UK and getting it in USD. The banks here are leeches!

When I get a wire, I get a letter. This time I got charged £10, then a Thank You note saying, QUOTE XYZ next time you do a wire and we'll ONLY charge you £10. I check the small print and the standard is £16.

WTF, £16 for doing what?! How the fuck can that charge be justified.
 
kingrage said:
Yeah, been building up USD for a while now, ever since it hit like 1.07 USD -> 1 CAD.

How low you guys think it's going to go?
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Dunno but it's been heading down verrry fast this past week, yesterday and today alone it's down over 2 cents I think.

Don't forget to adjust your Adwords bids accordingly if your account is CAD.
 
What do you mean by adjusting your Adwords bids?

I use a Canadian credit card with my account and so all my money is in Canadian dollars.

Could you please explain what you mean and how you would save money doing this?

Thanks man.
 
joeybadoey01 said:
What do you mean by adjusting your Adwords bids?

I use a Canadian credit card with my account and so all my money is in Canadian dollars.

Could you please explain what you mean and how you would save money doing this?

Thanks man.
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If you're bids are in CAD and the Canadian Dollar goes down, you're actually bidding less compared to everyone else whose bids are in USD.
 
Canadians been down here (Maine) shopping like crazy. Can't blame them. I used to do all my vacationing up there because of the strong US dollar. One thing I do notice - fast food places around here always stiff you with Canadian change in the drive thru.
 
I'm also loving this dive. Using XE.com because banks take way too much. If anyone has a better suggestion for a currency exchange service, please share.

Once the US economy starts to stabilize, I'll be afraid to hold any US currency. People will be moving money out of Govt bonds and demand for USD could go down a lot.
 
edit:oops nevermind read your question wrong...

Get a US account at TD, "borderless" ($5 a month!) for personal and not sure what the business one is called but they both give you a better rate which almost always works out to like a penny or more. For example normally at the bank they'll take like 2 cents with this account they only take a penny as long as you do it online through easyweb. Or err are you referring to trading currency to make monies?
 
I have a TD Borderless account already, but with xe.com I'm able to get an extra 1.5-2.5 cents depending on the day.

All I do is ETF or Wire the money from my TD US account to xe.com, xe changes it, then wires it back to my TD CDN account. 1.5-2.5 cents isn't too much when looking at $1000, but when you're getting into the tens of thousands or more, it adds up.

Today TD: 1.2297
Today XE: 1.25454
 
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Oh that is nice indeed...I know it adds up :)

Are you sure TD is just not delayed in updating though because I just went on now to check and it's showing me 1.2405...so for example could TD show 1.25 (a few minutes after XE) and if it happens to go down XE would be lower until TD updates again? ...either way I'm gonna look into this thanks.

Btw, just a heads up not sure if you know this but there are kinda hidden fees for wire transfers. I only found out about this recently because I always thought it was the networks charging me. I think it's $10 but still probably worth the $20 (wire out and back in) if you're exchanging a lot. I know it's not a lot but that shit adds up too, gonna ask for some receipts next time I'm at my branch since the fees don't show up on your account just get deducted straight from the wire amount. (sneaky)
 
Wires definitely add up. I'm trying to get my TD branch let me do ETF's, which are supposed to be cheaper. My rep is a bit of a douche, so I don't know when that will happen.

Just checked TD again too... it went up to 1.2375. It's all over the place today. I have no idea how xe or TD change their rates. If they are independent of each other, or go off of some other common variable.

I get charged $10 for incoming and $40 for outgoing wires up to 30 or 40K. Higher than that, wires cost about $60 to send.

I hate banks, so I love to find ways to make them less money. That said, I own them. If you can't beat em, join em.
 
The AUD dropped recently too from almost even with US to around 67c. It's bullshit paying for clicks in U.S (facebook) and getting paid from an Australian network.
 
Mmm.. waiting patiently for the AUD to go back into 0.50's territory again.. ahh those were the days :)
 
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