Loonie jumps higher
 

A falling U.S. dollar and surging crude oil prices pushed the Canadian dollar up more than 1.5 cents to 81.79 cents (U.S.) in early trading Thursday, with the currency settling back to 80.80 cents by the end of the trading day.

“We are seeing the U.S. dollar continue to reel against almost every major currency in the wake of the very aggressive action by the Federal Reserve Board yesterday, and it's also spilling into a number of commodity prices,” Bank of Montreal economist Doug Porter said in an interview.

“For instance, we have seen oil far higher yet again today, pushing up to $52 a barrel,” he said.

“Both these things are like catnip … for the Canadian dollar.”
On top of that, Statistics Canada's report on the Canadian inflation rate likely added an additional boost to the Canadian currency.

Prices rose 1.4 per cent in February from a year earlier, driven by higher food and shelter costs, Statistics Canada said Thursday.

“Normally, you don't think of inflation as being positive for a currency. But in this particular case, the fact that Canada is further away from deflation puts a wee bit less pressure on the Bank of Canada to completely follow in the Fed's footsteps,” Mr. Porter said.

Mr. Porter said the U.S. dollar “is absolutely on its heels at this point,” following the U.S. Federal Reserve Board's decision to purchase up to purchase $300-billion in longer term Treasury securities.

Bank of Nova Scotia currency strategist Sacha Tihanyi said in a research note that the move took the currency markets by surprise.

“As we have seen repeatedly, when a central bank announces the intention to … purchase longer term government bonds through the creation of reserves, the currency market immediately reacts negatively and pushes the currency in question down,” Mr. Tihanyi wrote.

“Yesterday's reaction kept to the script and the U.S. dollar was immediately and heavily sold against all comers, with the euro skyrocketing 3 per cent against the greenback, sterling not too far behind and the Canadian dollar gaining 2.3 per cent [against the U.S. dollar Wednesday],” Mr. Tihanyi said.

The loonie started the week at 78.59 cents (U.S.).
http://business.theglobeandmail.com/...l_gam_mostview

fuck I'm waiting for $500 us from sportsbook.com

Future projection?

52$ dollars a barrel!!!! And were still paying almost a dollar for gas!!!

Thats just total BS

anyone notice that paypal fucks you over when you're transferring from cad-us or the other way
fuck paypal

Keep on going, I'm heading back to the states this summer.

I sold my US at $1.29. I am happy :D

better than the banks

time to hit u ebay again since prices are getting cheaper for us canadians

They're called transaction fees. :p

And the dollar ain't high enough....against the yen. :p I want to buyyyyyyyy :cry:

EDIT: Emoticon fail. :(

ive noticed that lol

lucky bastard

thank fucking god. I was at the boullion exchange yesterday and I wanted to get a G usd since im going to vietnam in 5 days. They were sold out. I end up saving 16 dollars at this rate :D

Yes, Paypal rates are fucked. Like if xe.com is showing a rate of $1 USD = .81 CDN the Paypal rate will be anywhere from .77 to .79, it's best just to sell in CDN dollars when possible.

what about if u use your credit card? don't they give you the option of using the cc's exchange rates?

Nope. You're stuck with Paypal's rate. If you don't like their crappy exchange, open a US bank account and use that for Paypal.

Don't forget that with exchange rates, there's a buy rate and a sell rate. The rates that you see on TV is usually the midpoint. It seems that there's a 2c difference between the buy and sell.

proves that u know nothing about using paypal. Paypal does give u the option of using your CC and bank account exchange rate, you just have to click on that option while checking out.

And usually it absolute no difference because your CC company charges 2-3% on currency exchanges anyways and thats pretty much the same amount paypal charges you.

Yep, Lude S is right. You have the option of letting PayPal do the conversion for you, or just charge the USD straight to your credit card and let the credit card do the exchange rate.

It does make a difference, because I think PayPal gives a worse exchange rate. Now, this isn't based on lots of research, but I believe there was one day I looked at PayPal's exchange rate, but then decided to let my credit card do the exchange, and when I looked at the credit card statement later on, it was a lower exchange rate than what PayPal had offered...

Can we get a US credit card here? Like it charges in US and then we pay with US? I'm buying regularly from the states and I'm losing quite a but from all the ecxchanges.

there is a BMO credit card in USD I believe