Canadian dollar hits new 30-year high

[AxlsMainMan]

Canadian dollar hits new 30-year high against US dollar
09.13.07, 6:22 AM ET

LONDON (Thomson Financial) - The Canadian dollar surged to a new 30-year high against its US counterpart, boosted by strong oil prices and broad US dollar weakness.

Yesterday, US Nymex crude oil prices reached a new record high of over 80 usd per barrel. Although prices have dropped back slightly today they remain very strong.

The Canadian dollar is typically highly sensitive to movements in the oil price, though it has also benefited from broad weakness in the US dollar, which has hit new all-time lows against the euro on the back of expectations for a US interest rate cut next week.

This 'bullish market news (on oil prices)' for the Canadian dollar has been supported after Bank of Canada governor David Dodge yesterday stressed the health of the Canadian economy, BNP Paribas (other-otc: BNPQY.PK - news - people ) analysts said.

Speaking in London, Dodge reiterated that the Canadian economy is operating above potential, though he said tighter credit conditions should temper domestic demand.

'All things equal, the comments imply reluctance to cut rates following recent market volatility,' the BNP Paribas analysts said.

http://www.forbes.com/markets/feeds/afx/2007/09/13/afx4113240.html

[The Dog]

Dammit, the Canadian titty bars just got more expensive for us yanks! 

[SLCPUNK]

How is our dollar? Ugh....

[Prometheus]

dont feel bad were gaining against the euro and pound as well..... just not as much as we are gaiing against the dollar

[Mama Kin]

Now it would actually almost be cheaper for me to drive to the States and get gasoline and cigarettes and booze there. The cigarettes and booze would be much, much cheaper, with gas only slightly cheaper.

[Prometheus]

funny eh...
lol

[AxlsMainMan]

Canadian Dollar Climbs Above Parity With US Dollar
Thu, Sep 20 2007, 15:26 GMT

TORONTO -(Dow Jones)- The Canadian dollar moved briefly above the U.S. dollar late Thursday morning as it continues its sustained push higher against the greenback, although it has once again dropped back slightly below parity.

It marks the Canadian dollar's first foray into levels higher than its U.S. counterpart since November 1976.

The U.S. dollar reached its lowest trading level of the session so far of C$0.9998 just before 11:00 a.m. EDT (1500 GMT), according to electronic trading system EBS.

It has since rebounded to the C$1.0012 level.

The two currencies have danced around the parity level Thursday morning after the U.S. dollar touched it briefly in earlier trading, with the U.S. dollar pressured by broadly based weakness as well as continued positive momentum in the Canadian unit.

http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=fd0293f9-9ca1-4f34-a895-d0c7b8ae96b2

Another reason why one can't help but laugh at absurd posts like this:

Canada might as well be a US territory.

[SLCPUNK]

Canadian Dollar Climbs Above Parity With US Dollar
Thu, Sep 20 2007, 15:26 GMT

TORONTO -(Dow Jones)- The Canadian dollar moved briefly above the U.S. dollar late Thursday morning as it continues its sustained push higher against the greenback, although it has once again dropped back slightly below parity.

It marks the Canadian dollar's first foray into levels higher than its U.S. counterpart since November 1976.

The U.S. dollar reached its lowest trading level of the session so far of C$0.9998 just before 11:00 a.m. EDT (1500 GMT), according to electronic trading system EBS.

It has since rebounded to the C$1.0012 level.

The two currencies have danced around the parity level Thursday morning after the U.S. dollar touched it briefly in earlier trading, with the U.S. dollar pressured by broadly based weakness as well as continued positive momentum in the Canadian unit.

http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=fd0293f9-9ca1-4f34-a895-d0c7b8ae96b2

Another reason why one can't help but laugh at absurd posts like this:

Canada might as well be a US territory.

Yup, absurd is right. He said the kind of crap to me when I posted similar news.

I'm not laughing at our weakening dollar though, it's a real bummer.