US/Canadian... 1.0006
I am in shock...
What a joke, everyone put on their born yesterday hats. The US government reported consumer prices fell in August by 0.1%. Energy prices fell 3.2%. I guess no one noticed that crude oil is over $80 month...
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In one day or so the exchange rate for a dollar US went from $1.03 to $1.01 Canadian.
Today the US had 2% inflation on imports from Canada, or Canadian exporter to the US just saw their revenue drop by 2%. Either way, it is going to be ugly.
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I couldn't help but notice I'm getting US coins back in my change. That was not happening even 3 months ago... US, $1.0375 Canadian. Wow, the US dollar has come down fast and hard.
US importers are going to be hurting badly, as will Canadian exporter. I wouldn't want to be owning those kinds of investments through their next earnings reports, or even now...
All of a sudden US exports got a whole lot cheaper and more competitive, so Canadian importers should be looking good.
