Canadian dollar nosedive

[mshanson3121]

The dollar has dropped $0.03 within the last two weeks, and no signs of it stopping. Anyone else getting a bit worried on how low it's going to go? We're not planning Disney this year, but did have a big US trip planned, that we're now starting to reconsider.

 

[mjhtvchick]

The dollar has dropped $0.03 within the last two weeks, and no signs of it stopping. Anyone else getting a bit worried on how low it's going to go? We're not planning Disney this year, but did have a big US trip planned, that we're now starting to reconsider.

It definitely sucks - but not panicking just yet - the extra 0.03 adds about $150 overall to my vacation budget...I imagine we will probably be doing less shopping than we usually do and eating a bit more frugally.

 

[Gigi22]

The dollar has dropped $0.03 within the last two weeks, and no signs of it stopping. Anyone else getting a bit worried on how low it's going to go? We're not planning Disney this year, but did have a big US trip planned, that we're now starting to reconsider.

Just listening to CBC Radio, if I understand correctly, part of the fall of our dollar is partly due to problems in OPEC. Russia and Saudi Arabia have failed to come to an agreement on the price of oil and are indulging in a “game of chicken” with Saudi Arabia driving the price down to a point where few countries can still make money. Low oil prices frequently affect our dollar. The rest? Coronavirus and resulting international disruptions in the supply chain, and jitters in the stock markets.

 

[mshanson3121]

Just listening to CBC Radio, if I understand correctly, part of the fall of our dollar is partly due to problems in OPEC. Russia and Saudi Arabia have failed to come to an agreement on the price of oil and are indulging in a “game of chicken” with Saudi Arabia driving the price down to a point where few countries can still make money. Low oil prices frequently affect our dollar. The rest? Coronavirus and resulting international disruptions in the supply chain, and jitters in the stock markets.

Yes definitely. My concern is, they're expecting it to go lower, how much lower?

 

[Gigi22]

Haven’t heard any predictions about how low it might go. Failing the availability of a reliable (to you) prediction, you could always decide how low the dollar would have to be before you cancel your trip. I recall a time when the Canadian dollar was worth $.65 US.

 

[mshanson3121]

Haven’t heard any predictions about how low it might go. Failing the availability of a reliable (to you) prediction, you could always decide how low the dollar would have to be before you cancel your trip. I recall a time when the Canadian dollar was worth $.65 US.

Yes true. Unfortunately, we're pretty much at that point. Another cent or two, and we'll probably cancel. We had already cut our trip to the bare bones that we were comfortable with. We can cut off a night to compensate, but... honestly, we'd rather just cancel and be able to take the same length trip in Canada, than to have to drastically shorten vacation. I'm really hoping it doesn't go much farther!

 

[bankr63]

Well of course it's dropping. It does this EVERY time we head down south. Honestly I think they have a tracker on me. I predict it will drop for the rest of this week, leveling out at abysmal level for next week (Ontario March break) before recovering the following week.

 

[scorpsfan]

Yeah, really. This is ridiculous. It couldn't have come at a worse time. I guess it'll be kids meals and swamp water for us when/if we go!! YAY!!

 

[SCCNJ]

I was already shocked by the prices of table service dinners when converted to the Canadian equivalent. I'm glad now I actually never found one that seemed worth the price for my picky crew. Ouch!

 

[Mikey15]

Haven’t heard any predictions about how low it might go.

The oil price crash drove this, and even then the ~1.33->~1.36 swing isn't as much as it could have been given how steep the oil decline is. The good news is oil can only go so much lower than it just did, so it might not get much worse.

Oil staying at this price though will have a major impact on Alberta and potentially cause a recession like the 2014/15 crash did, so I could see FX holding around here for a while rather than bouncing back.

 

[sherilaine]

The highest the dollar has been in the last full year is .77 to the US dollar. So I'd not call this nose dive as such especially considering the catalyst that is causing it. I

 

[StarSeven7]

Where were you planning to go on your trip to the US? Have you actually compared prices to a trip in Canada? We travel in the States all the time and even after factoring in the exchange rate, things like food, hotels, campgrounds, gas, are still quite a bit cheaper in the US.

 

[mort1331]

Leaving wed. No backing out now. Everything is paid for except tips and gas on way down and back . With the drop on gas price should offset that. In for a penny.

 

[ilovetotravel1977]

We are going to WDW in December, so lots of time for it to recover.

 

[mshanson3121]

Where were you planning to go on your trip to the US? Have you actually compared prices to a trip in Canada? We travel in the States all the time and even after factoring in the exchange rate, things like food, hotels, campgrounds, gas, are still quite a bit cheaper in the US.

We were going to New Hampshire in June. We have until May to cancel without penalty, though if we have to book another rental elsewhere, we need to decide sooner than that. I agree, normally it's just as cheap to travel in the US even with the exchange because of those factors. However, given the high cost of lodging in the White Mountains, we have a couple vacation options within Canada (looking at Niagra Falls, or a week split between PEI/Cape Breton) that are just as cheap/cheaper than our trip to NH. Just not what we wanted. We could always explore other locales in the US too, I suppose, that would have less expensive lodging.

 

[StarSeven7]

We were going to New Hampshire in June. We have until May to cancel without penalty, though if we have to book another rental elsewhere, we need to decide sooner than that. I agree, normally it's just as cheap to travel in the US even with the exchange because of those factors. However, given the high cost of lodging in the White Mountains, we have a couple vacation options within Canada (looking at Niagra Falls, or a week split between PEI/Cape Breton) that are just as cheap/cheaper than our trip to NH. Just not what we wanted. We could always explore other locales in the US too, I suppose, that would have less expensive lodging.

We're heading to the White Mountains this summer as well! Although we're camping so that's pretty cheap! Is there anywhere cheaper that you can find or are all the rentals expensive?

 

[mshanson3121]

We're heading to the White Mountains this summer as well! Although we're camping so that's pretty cheap! Is there anywhere cheaper that you can find or are all the rentals expensive?

Awesome! We love it there, this will be our 6th or 7th trip there. We typically stay in the North Conway area, which is a bit more touristy, so higher prices, but is also very convenient and central. Most of the rentals are pretty much on par with or cheaper than a decent hotel room, which will run you $175-200 a night for the most part during the summer season. The really nice hotels run $250+. There are a few decent budget hotels that are in the $130-150 range. We're paying $165 US a night for a townhouse rental, so we *could* save $25-30 a night on lodging by switching to one of the value hotels, but we would just turn around and spend that money, and much more, by having to eat out for all our meals. With the townhouse we'll buy a week's worth of groceries and call it good. We did find a couple condo rentals that are about $150-200 less than where we're staying, so that is an option, but we really like the resort we're staying at, they have great amenities, and we know what we're getting. We're currently booked for 8 nights, so we can always drop a night or two if need be. We'd rather do that, than change resorts. But, if for some reason even that isn't enough to make up the costs, then we'll probably just consider other options.

Where are you camping? We've stayed at Timberland Campground before in Gorham, and really liked it there.

 

[StarSeven7]

Awesome! We love it there, this will be our 6th or 7th trip there. We typically stay in the North Conway area, which is a bit more touristy, so higher prices, but is also very convenient and central. Most of the rentals are pretty much on par with or cheaper than a decent hotel room, which will run you $175-200 a night for the most part during the summer season. The really nice hotels run $250+. There are a few decent budget hotels that are in the $130-150 range. We're paying $165 US a night for a townhouse rental, so we *could* save $25-30 a night on lodging by switching to one of the value hotels, but we would just turn around and spend that money, and much more, by having to eat out for all our meals. With the townhouse we'll buy a week's worth of groceries and call it good. We did find a couple condo rentals that are about $150-200 less than where we're staying, so that is an option, but we really like the resort we're staying at, they have great amenities, and we know what we're getting. We're currently booked for 8 nights, so we can always drop a night or two if need be. We'd rather do that, than change resorts. But, if for some reason even that isn't enough to make up the costs, then we'll probably just consider other options.

Where are you camping? We've stayed at Timberland Campground before in Gorham, and really liked it there.

We like rental houses too - it's nice to not have to eat out every meal! We're staying at Lost River Valley Campground. We went to that area when I was a kid but this will be my first time back!

Remember to factor in gas and food too! I'm not sure if you're driving through the US or Canada on your way there but gas in the States is obviously much cheaper and we find food generally cheaper too!

 

[mshanson3121]

We like rental houses too - it's nice to not have to eat out every meal! We're staying at Lost River Valley Campground. We went to that area when I was a kid but this will be my first time back!

Remember to factor in gas and food too! I'm not sure if you're driving through the US or Canada on your way there but gas in the States is obviously much cheaper and we find food generally cheaper too!

Yes definitely! We have been factoring that stuff in. We actually live in New Brunswick, so it's only about a 5-6 hour trip for us which is nice! We're planning to do the Lost River Boulder caves this summer for the first time. We're also doing a day trip into Vermont to visit the Natural Science Centre in Quechee.

 

[StarSeven7]

Yes definitely! We have been factoring that stuff in. We actually live in New Brunswick, so it's only about a 5-6 hour trip for us which is nice! We're planning to do the Lost River Boulder caves this summer for the first time. We're also doing a day trip into Vermont to visit the Natural Science Centre in Quechee.

Oh yes that's much closer to you - we're coming from Ontario! We did the Lost River boulders when I was a kid and I LOVED it and that's one of the big reasons we're going back there on this trip!