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Canadian dollar dropped in the last month

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    #1

    Canadian dollar dropped in the last month

    From October 2 to today the Canadian dollar has dropped just over 2 cents versus the USD from just over 74 cents to just under 72. I have certainly seen predictions of it falling under 70 cents. One would think this could cause an uptick in inflation. Canada’s economy is essentially flatlining while the U.S. economy continues to grow. Any thoughts? Predictions?
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    #2
    Wheat basis should be much higher than it is with the currency exchange.
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      #3
      Hamloc, maybe someone should have the NDP address that question.
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        #4
        Canadian dollar is 71.07 cents this morning. Lowest point in 4 years. Will make what we buy more expensive.

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          #5
          Originally posted by Hamloc View Post
          Canadian dollar is 71.07 cents this morning. Lowest point in 4 years. Will make what we buy more expensive.
          Assuming a business is profitable. It will be selling more $ worth of product than it buys. In the short term, a lower CAD is beneficial. Sucks to be a wage earning consumer though.
          ??????
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            #6
            Lower dollar increases the value recieved for sales. As long as sales are greater than expenses, it should work out alright.
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              #7
              Maybe buying fertilizer in October will be right for once.

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                #8
                Originally posted by Hamloc View Post
                Canadian dollar is 71.07 cents this morning. Lowest point in 4 years. Will make what we buy more expensive.
                In other words it makes us all poorer. The notion that making our exports cheaper somehow enriches us is logic that I will never understand. Demand for a country's currency is the ultimate barometer for the success of that country's economy. If there is strong demand for whatever a country is exporting that drives up the demand for the currency and makes the currency more valuable. Pretending that we are somehow richer because we have more of our deflated dollars is silly.
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                  #9
                  Normally you expect the BOC to be supporting our currency? Where we came from:
                  Last edited by shtferbrains; Nov 15, 2024, 21:06.

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                    #10
                    It’s getting a lot more expensive to buy U.S. dollars these days. 70 cents or bust? More BOC rate cuts likely.
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