Post by
lifeisgood1010 on Aug 09, 2023 11:37am
We are having it both way
Usually, when oil price move up we get an appreciation of our looney.
But this time around, it's not the case.
June 22nd 2023, WTI closed at $69.51 and are CDN $ closed at $76.03
Today, WTI is $14.40 higher and our $ is weaker at $74.37
Comment by
autofocus111 on Aug 09, 2023 11:46am
The continued strength of the USD in the face of massive deficit spending and recent gov credit downgrade blows my mind. I suspect it'll stay that way until QE resumes... then look out below!
Comment by
Experienced on Aug 09, 2023 4:36pm
autofocus - I share your concerns That said, in terms of the strength of the US dollar, I guess it depends on which currency pair you are looking at. For example, with respect to the US$ Euro pair, since the end of September last year to yesterday the US dollar has fallen from 1.04 to .91
Comment by
mrbb on Aug 09, 2023 7:40pm
well, low CDN$ is great for the resource sector as Canadian producers sells at USD and pay their domestic expense and cost in cheap CDN$