Where did our CAD go??

[Honeystar120608]

I know with the economy, and the situation in the US, and reading today about the banks slashing .5%(or a full1%) affects the dollar. But holy smokes! .88 on the USD? I don't know enough about this, anybody suspect it will go back up a few cents soon??
It was so good this summer.

 

[Mrs. M. Mouse]

I don't know if it will go up for sure soon but I think it will climb a bit again....I do know it hurts! this low of a dollar makes it hard for our yearly trip to the states at thanksgiving!

 

[dis_guy]

I think I'll be putting money away for our 2009 trip in the bank and apply it to our reservation when the exchange is a bit better than this! Ouch!

 

[farmboy]

here here....hope the dollar rises soon, only 17 days left till we go and I'd like to still switch some money for a dvc add on down payment.....knew I shoulda went when it was 95

 

[Honeystar120608]

Well it went up a little wee bit last night. It's at 1 CAD = 0.889179 USD, it was a little lower yesterday. Hopefully that is all it needed to go up.

Seems like Im always checking xe.com now. My payment is due end of the month, holding out until it gets better...IF it gets better! Saved $2 between last night and today.

 

[braydensmom]

I started a thread about this when the dollar went from 0.97 - 0.92 and asked why....Someone answered that the dollar, for our economy, needs to stay below 0.90. When the dollar rises, American companies no longer want to -trade or do business with us, as we have seen with the loss of jobs in the automotive sector. Also because we have a higher standard of living then the US, we are losing tourism the more our dollar rises. I am leaving for WDW on the 20th, so I am heading to change my money over today, so I understand how everyone feels, but we need to look at it as a positive thing for our economy.

 

[dhluvsDisney]

Argh! This is frustrating me as our cruise full payment is due in 10 days! It just shot up in price. Not happy. I didn't mind slightly, but I would never have anticipated this so quickly.

 

[disneynovic]

I leave tomorrow 7am for our Downtown Disney weekend conference, and I went to the bank to exchange money. $100 US cost me $114.60 CAD. Hope it gets much better for our family Disney trip in Nov.

 

[Honeystar120608]

I started a thread about this when the dollar went from 0.97 - 0.92 and asked why....Someone answered that the dollar, for our economy, needs to stay below 0.90. When the dollar rises, American companies no longer want to -trade or do business with us, as we have seen with the loss of jobs in the automotive sector. Also because we have a higher standard of living then the US, we are losing tourism the more our dollar rises. I am leaving for WDW on the 20th, so I am heading to change my money over today, so I understand how everyone feels, but we need to look at it as a positive thing for our economy.

Ahh that does make a lot of sense! I can understand that. However, as I am learning with the upcomming election, it would be nice to have more 'internal healing' than having to relly SO much on the trade. Don't get me wrong, it is huge for our economy to do the trade. But so much so it is starting to affect too many families across the country if you get what I mean. But yes, as long as our economy stays afloat, it is a small price to pay.

Argh! This is frustrating me as our cruise full payment is due in 10 days! It just shot up in price. Not happy. I didn't mind slightly, but I would never have anticipated this so quickly.

Yes I know the feeling. I didn't expect this to happen. Hopefully, it will climb back up to .90. I know that the banks just did something with interest somewhere along the way. Where they cut it some. This helps our overall economy and therefore our dollar went down. I assume it helps out in the trade sector as well..which would be factored into it all I would assume.

I leave tomorrow 7am for our Downtown Disney weekend conference, and I went to the bank to exchange money. $100 US cost me $114.60 CAD. Hope it gets much better for our family Disney trip in Nov.

Ugh, at least it was only $100 I guess. We owe $877 which is about 980 USD I believe. Then I need to add on the DLX DP in November.

So... the up side, Gas IS cheaper. So that is a bit of savings if you have a vehicle. Granted, DH works no more than 3 mins drive away. About a 15 min walk, yet he CANT walk. That isn't an option to him.

Going to go check on the dollar now to see if something mysteriously happened to make the CAD go up. Doubt it.

 

[Honeystar120608]

1 CAD = 0.871103 USD This morning would have been better to get your money switched over than this afternoon it seems!

 

[Gina-Gina-Bo-Bina]

I work for two financial planners. They told me a month ago that all signs pointed to the Canadian dollar taking a dive. So even though the balance of my package wasn't due until November 26th, hubby and I decided to pay off everything but $500 (leaving the extra as some wiggle room in case a code is released for our dates of travel). I am sooooo glad we decided to pay when we did .

At work yesterday, we were reading a report suggesting that the Canadian dollar may be at 80 cents by the new year. Just in time for our trip

So now, we're left in the position of wondering if we should convert some cash over now, or hope that the reports are wrong . That's a tough call to make.

 

[bavaria]

I started a thread about this when the dollar went from 0.97 - 0.92 and asked why....Someone answered that the dollar, for our economy, needs to stay below 0.90. When the dollar rises, American companies no longer want to -trade or do business with us, as we have seen with the loss of jobs in the automotive sector. Also because we have a higher standard of living then the US, we are losing tourism the more our dollar rises. I am leaving for WDW on the 20th, so I am heading to change my money over today, so I understand how everyone feels, but we need to look at it as a positive thing for our economy.

That was me I believe...

The reality is that while we may like it when the Cdn dollar/Euro is high as we have more purchasing power IN the US and our vacations TO the US are cheaper, it hurts our economies.

So while it may be nice to buy a pair of shoes for $10 less (if the dollar changes from 0,96 to 0,90 for example), in the long run it hurts us because if the economy is bad, then there is job loss, with all of the other implications.

I think that you said it well on the other thread about personal gain vs greater good.

The storm is coming to Canada - all signs are on the horizon. I am sad to say that my crystal ball has been completely accurate as everything which I have forecasted for the last year has come to pass. Sadly most people here didn't believe me.

 

[nosy parker]

I have been checking the rates a million times a day for weeks too!

Paid our trip off, and Discovery Cove day as well, about a month ago so it was pretty decent. Changed over $500 last week the day before it started to dive (I think it was at .95). Now I'm kicking myself for not exchanging the rest. I was just hedging a bit, hoping it might still go up a bit. Anyway, nothing to do but wait and see. We don't leave until the 30th, so there's still a bit of time for things to settle down.

As for all those people who work in the financial fields and make all these predictions, I feel it's nothing more than an educated guess. If they were able to predict this kind of stuff with any real accuracy, wouldn't they all be rich? I don't think anyone ever really knows. Its such a crapshoot. But Gina I'm really glad your friends were right in this case and you got to save! Doesn't it feel good?!

 

[bavaria]

If they were able to predict this kind of stuff with any real accuracy, wouldn't they all be rich? I don't think anyone ever really knows.

Many people are, actually. I know many people who like me travel and live in multiple countries around the world, and who trade currency on the side as a hobby. They do make a lot from times like this.

The signs were there for a long time that the Cdn dollar and the Euro HAD to drop. Those who had enough money to hedge made quite a bit of profit this week.

The other challenge is being able to move money around quickly enough, and to be able to do it in large sums. Moving a few thousand dollars around won't make very much profit.

 

[declansdad]

As long as the Bank of Canada cuts interest rates and commodity prices drop, the Loonie will drop. The value of our dollar is tied closely with commodities like oil and minerals.

 

[nosy parker]

Many people are, actually. I know many people who like me travel and live in multiple countries around the world, and who trade currency on the side as a hobby. They do make a lot from times like this.

The signs were there for a long time that the Cdn dollar and the Euro HAD to drop. Those who had enough money to hedge made quite a bit of profit this week.

The other challenge is being able to move money around quickly enough, and to be able to do it in large sums. Moving a few thousand dollars around won't make very much profit.

Oh, I'm sure there are some. I just meant that you can find completely contradictory opinions about it on any given day. For the average person it's hard to know if you should hold out ot not. It doesn't always seem that what is forecasted by some, comes to pass.

At any rate, long term I'd rather save on the gas!

 

[bavaria]

It may be 'easier' for me because I do travel so extensively and use different forms of news to educate myself instead of just from one country. I've been telling people for a long time that the dollar/Euro was going to drop but didn't really read much about it here.

I also tend to set aside emotion, which is difficult for many people to do. That really helps when forecasting, as I don't get tied up in the moment, and can separate what I want to happen from what I think will happen. (If that makes sense)

But you are correct - now you will see some benefits that are still tied to currency. The amount that you are saving on gas probably more than offsets the increased cost of your vacation.

 

[lisalonglash]

I'm sure glad we paid off our trip when the dollar was still at 99 cents! If the exchange rate doesn't get it's hiney back up, it'll cost us more for food (it'll be mostly counter-service meals for us) and souvenirs, but we're gonna go have a wonderful time anyway!

 

[dhluvsDisney]

Ahhhh! Did you see what happened today?????????????/ Who could forsee this kind of "bleeding" so quickly? I am so frustrated!

 

[Honeystar120608]

It keeps going down!!! I hope it stops soon. Does anybody think that both the US and Canadian elections would make the dollar unstable? I always wondered that.