This thread should be opened for my fellow Canadian guys who want to save up their $$$$ to move abroad, or to locally know what is going on in Canada. This thread is about Canadian economy.
My first post in this will be to analyze the Canadian economy & its impact on the CAD for overseas travel.
Here are some of my tips regarding the Canadian economy, and how that affects your purchasing power abroad:
1) The Bank of Canada recently announced in the third week of October, 2016 that the growth for Canada is not as expected, thus elevated risk of interest rate cut which will devalue the Canadian dollar. Increasing interest rates by BoC will prop up Canadian dollar, but that is not expected until 2018 if the economy still lags in the way of the closing of Q3 stats retail sales of August 2016.
2) Oil supply glut for the past year. Oil prices reach a peak of 50$+, only to go down back to 45$+ levels because of excess oil inventory in the United States.Increase in oil prices above 60 US$ per barrel could increase value of Canadian dollar, but oil prices have only risen to approximately 53US$ before lurking around in the 50$ range again.
3) Take note that the Canadian dollar FX reached a low of 0.683 dollars as compared to the $1.00 United States greenback earlier this year. Oil prices were 27US$ to 35 US$ during that time.
4) If Donald Trump becomes POTUS, Canada economy will take a whacking if The Donald decides to bring back car manufacturing back to the United States. Ontario loses. If Hilary becomes POTUS, the American economy will be fucked, but the Canadian dollar will rise against the USD if the Federal Reserve doesn't raise interest rates by Q1 2017.
5) Prime Ministress Justine Trudeau promise to "stimulate" the Canadian economy in 2016, through deficit spending only appeared to make the champagne socialists & public sector workers richer, while everyone else becomes poorer due to the early 2016 currency inflation of a pre 70's dollarette.
6) When the Canadian dollar goes below 0.70 in value, other countries tend to purchase the CAD at a much lower rate such as 0.63-0.67 range in their currency equivalent.
7)For the past 1.5 years (2014-2016), the United States greenback is considered more valuable in certain overseas countries as compared to the Canadian dollar. eg-A hooker from certain Latin American countries would literally perform a BJ for a US10$ Bill, but show her a 10 Canadian dollar bill now, and she will be wondering if she will even get as much value when changed in her currency.
8) Housing bubble in Toronto & Vancouver. If the housing market declines in Canada, the CAD may go down with it.
These eight points will hopefully assist you Canadian guys in determining how to make use of the Canadian economy news to either short USD or Canadian dollars, or to research on ways to make your Canadian dollar stretch overseas by forecasting if the CAD will rise or fall in the future.
***This post is not investment advise. Consult with a qualified financial advisor in making financial decisions & investment.
My first post in this will be to analyze the Canadian economy & its impact on the CAD for overseas travel.
Here are some of my tips regarding the Canadian economy, and how that affects your purchasing power abroad:
1) The Bank of Canada recently announced in the third week of October, 2016 that the growth for Canada is not as expected, thus elevated risk of interest rate cut which will devalue the Canadian dollar. Increasing interest rates by BoC will prop up Canadian dollar, but that is not expected until 2018 if the economy still lags in the way of the closing of Q3 stats retail sales of August 2016.
2) Oil supply glut for the past year. Oil prices reach a peak of 50$+, only to go down back to 45$+ levels because of excess oil inventory in the United States.Increase in oil prices above 60 US$ per barrel could increase value of Canadian dollar, but oil prices have only risen to approximately 53US$ before lurking around in the 50$ range again.
3) Take note that the Canadian dollar FX reached a low of 0.683 dollars as compared to the $1.00 United States greenback earlier this year. Oil prices were 27US$ to 35 US$ during that time.
4) If Donald Trump becomes POTUS, Canada economy will take a whacking if The Donald decides to bring back car manufacturing back to the United States. Ontario loses. If Hilary becomes POTUS, the American economy will be fucked, but the Canadian dollar will rise against the USD if the Federal Reserve doesn't raise interest rates by Q1 2017.
5) Prime Ministress Justine Trudeau promise to "stimulate" the Canadian economy in 2016, through deficit spending only appeared to make the champagne socialists & public sector workers richer, while everyone else becomes poorer due to the early 2016 currency inflation of a pre 70's dollarette.
6) When the Canadian dollar goes below 0.70 in value, other countries tend to purchase the CAD at a much lower rate such as 0.63-0.67 range in their currency equivalent.
7)For the past 1.5 years (2014-2016), the United States greenback is considered more valuable in certain overseas countries as compared to the Canadian dollar. eg-A hooker from certain Latin American countries would literally perform a BJ for a US10$ Bill, but show her a 10 Canadian dollar bill now, and she will be wondering if she will even get as much value when changed in her currency.
8) Housing bubble in Toronto & Vancouver. If the housing market declines in Canada, the CAD may go down with it.
These eight points will hopefully assist you Canadian guys in determining how to make use of the Canadian economy news to either short USD or Canadian dollars, or to research on ways to make your Canadian dollar stretch overseas by forecasting if the CAD will rise or fall in the future.
***This post is not investment advise. Consult with a qualified financial advisor in making financial decisions & investment.