Canadian Dollar Rising to 80¢

[Andem]

The Canadian dollar is about to pass 0,80$

Canadian dollar trading above 79 cents US, highest in more than a decade

Canadian Press
Thursday, September 30, 2004

TORONTO (CP) - The Canadian dollar traded above 79 cents US early Thursday, building on an 11-year high close achieved the day before.

The loonie was up 0.63 of a cent at 79.38 in early afternoon trading even as Statistics Canada said gross domestic product edged up just 0.1 per cent in July, missing economists expectations of 0.3 per cent. The July rate followed a 0.4 per cent gain in June.

On Wednesday, the International Monetary fund raised its outlook on Canada's economic growth and issued a steady-as-they-go recommendation on the country's monetary and fiscal policies.

The Washington-based global agency projected growth in Canada's economy, after accounting for inflation, of 2.9 per cent this year. That is up from the IMF's April forecast of 2.6 per cent and up from two per cent real growth in gross domestic product last year, though still below the 3.4 per cent growth of 2002.

The IMF predicts Canada's economy will expand 3.1 per cent next year.

The Canadian dollar has risen 1.88 cents US this year.

© The Canadian Press 2004

 

[vista]

Yes. We were almost there today.

As the U.S. $ drops, it is good for gold and silver. Fiat currencies (as all before these) will collapse.

The U.S. greenback is an empty promise. They print all the money they want and everyone else has to accept it and know damned well it's on it's way down.

Again silver broke $7.00. Good. Is there support at this level?

 

[Numure]

Watch as the Euro takes its place as the worlds money....

 

[undergradNITZ]

the US economy goes down everyday...the only things that goes up are the computer companies...like ATI...

 

[Andem]

ATI is a Markham-based Ontario company. Even Nortel is Canadian.

 

[vista]

No.

A 'balanced' porfolio is not realistic in these times - the end of what we accept as the norm. I am 45% in energy stocks, 45% in golds and 10% in basic minerals. A FAR cry from what I have learned as basic investing. Times ARE different - the end of what we know as essential economy.

Gold, silver and energy.

Without power there is no technology; technololgy will regress. Buy stocks in a good Horse and Buggy Whip company.

Think to the future.

 

[Reverend Blair]

RE: Canadian Dollar Risin

I invest all of my money in empty beer bottles. If they ever raise the return rate to fifteen cents, I'll be rich.

 

[FireJED]

Do you like drinking Reverendd Blair? We can be good friends :twisted:

 

[Reverend Blair]

RE: Canadian Dollar Risin

I am a big fan of beer.