USDCAD plunges as descending channel highlights bearish bias
(www.forexfactory.com)
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This is an American article, so we Canadians should be reading it the other way around. Our 81-cent dollar is "the highest it's been in more than three years." Even though eight years ago our dollar was at par, this article seems to just ignore that and sound the alarm bells for the States.
If I start buying CAD it will sink.
Gonna be interesting if we gonna reach parity with the USD. Been 8 years since the last time the CAD achieved that.
It would be, but what would people DO with that parity? Go cross-border shopping? Not likely. This time around we'd just watch as our retailers continue to justify why prices are still higher in Canada. Remember the book fiasco? At first they said "It'll take a while for prices to match, because of vague book publishing reasons and the possibility the dollar will go back down." After a few months of that, they said "Oh, Canadians read more, so there's a higher demand for books. That's why they cost more." And eventually, they started printing Canadian covers that didn't include the American prices so you wouldn't know just how badly you were being gouged.
The same thing we did in 2012.
Cheap vacations?
And last time it decimated our industrial base.
Thanks Harper.