Canadian and American dollars near parity; loonie closes gap with U.S. greenback

The Canadian Press ~ The News
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The Canadian and American dollars are dancing around parity.
The two currencies were momentarily worth exactly the same early Tuesday before the loonie slipped back just below the greenback.
The Canadian dollar was worth more than 99.9 cents US just before the official open.
The loonie hasn't been above the U.S. dollar since July 2008.
The U.S. dollar has been driven downward in recent weeks by rising oil prices and continued economic instability.
The loonie, on the other hand, has been supported by the relative strength of the Canadian economy.
Economists don't expect the loonie to rise quickly to the heights it reached around US$1.10 back in November 2007, but rather feel it will waver around parity for awhile.

Geographic location: U.S.

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Recent comments

  • David
    July 02, 2010 - 13:34

    Who gives a crap about the dollar?

    Well, what odds, I'm afraid you've captured the essence of Newfoundlanders' understanding of and connection to the world of finance, business and economics with that statement.

    What difference does the fundamental measure of value of trade have on us? We don't make no goods or provide services, and we sure as hell don't want none!

  • B
    July 02, 2010 - 13:32

    It hurts exports, but it helps imports. If you look around at the things you are purchasing, you will find that a high percentage of them are imported. This is only bad for oil and gas, and big companies as the profit margins are a little tighter. I don't pity billion dollar companies that may come up short a few million this year. For the consumer it is good news, more buying power.

  • what odds
    July 02, 2010 - 13:25

    David the point I was trying to make before you pointed out the typical Newfoundland forum attitude was that there can be nothing good to come from the soaring dollar to folks that dont live a few hours from the border.

    And dont talk to me about trade and economics because all trade and economics is dictated by private banks and big business not by government as government has absolutely no control over its money or inflation.

  • what odds
    July 02, 2010 - 13:23

    Who gives a crap about the dollar?

    If you live near the border you may get turned away by butt-hurt American car-dealerships as many Canadians found that to be the case in november 2007 although for decades previous and years after Americans had no trouble jumping north to buy cheaper cars and we had no trouble selling them.

    We still pay more for books even those written and published in Canada, we pay more for gas, food, and that 25 dollar dozen of moosehead beer youll buy at the liquor store will sell in the states for 10 bucks. the 26er of Iceberg Vodka thats Made Right Here Will sell for about 25 bucks in the liquor store here and across canada while only fetching 9.99 in the US.

    So who gives a crap about the Canadian Dollar we wont see anything good come out of it. Makes it easier for me to buy american cash to go to the states with this summer but thats about it.

  • Neil
    July 02, 2010 - 13:22

    YEAH!!!! Oh wait, it don't mean a roll of beans....It only hurts exports which, again, don't have any effect on me at all....Just something to watch if there is nothing on tv I guess.

  • Gone in a
    July 02, 2010 - 13:20

    Not much of a help when we see gas prices here going up this week by another 2 cents a litre. Keep the price of oil and the dollar going up and soon enough we will see the unemployed rise again and chop any gains we thought we saw right away. People need to continue to cut back on consumption rather then increase it. As soon as we increase consumption we pay for it in more ways then one.

  • Frankie
    July 02, 2010 - 13:13

    Whoo Hoo!!! Time to buy that BIG TICKET (Car, Bike Boat, etc.) item from south of the Border! Conspicuous Consumption bring it on!

  • Jimmy Mac
    July 02, 2010 - 13:11

    Even with parity, we still only get .96 cents on the dollar at the banks. I just bought $1000 Us and it cost me $1,040 Cdn. So exactly what does this mean to the average Joe?

  • David
    July 01, 2010 - 20:24

    Who gives a crap about the dollar?

    Well, what odds, I'm afraid you've captured the essence of Newfoundlanders' understanding of and connection to the world of finance, business and economics with that statement.

    What difference does the fundamental measure of value of trade have on us? We don't make no goods or provide services, and we sure as hell don't want none!

  • B
    July 01, 2010 - 20:21

    It hurts exports, but it helps imports. If you look around at the things you are purchasing, you will find that a high percentage of them are imported. This is only bad for oil and gas, and big companies as the profit margins are a little tighter. I don't pity billion dollar companies that may come up short a few million this year. For the consumer it is good news, more buying power.

  • what odds
    July 01, 2010 - 20:12

    David the point I was trying to make before you pointed out the typical Newfoundland forum attitude was that there can be nothing good to come from the soaring dollar to folks that dont live a few hours from the border.

    And dont talk to me about trade and economics because all trade and economics is dictated by private banks and big business not by government as government has absolutely no control over its money or inflation.

  • what odds
    July 01, 2010 - 20:08

    Who gives a crap about the dollar?

    If you live near the border you may get turned away by butt-hurt American car-dealerships as many Canadians found that to be the case in november 2007 although for decades previous and years after Americans had no trouble jumping north to buy cheaper cars and we had no trouble selling them.

    We still pay more for books even those written and published in Canada, we pay more for gas, food, and that 25 dollar dozen of moosehead beer youll buy at the liquor store will sell in the states for 10 bucks. the 26er of Iceberg Vodka thats Made Right Here Will sell for about 25 bucks in the liquor store here and across canada while only fetching 9.99 in the US.

    So who gives a crap about the Canadian Dollar we wont see anything good come out of it. Makes it easier for me to buy american cash to go to the states with this summer but thats about it.

  • Neil
    July 01, 2010 - 20:06

    YEAH!!!! Oh wait, it don't mean a roll of beans....It only hurts exports which, again, don't have any effect on me at all....Just something to watch if there is nothing on tv I guess.

  • Gone in a
    July 01, 2010 - 20:03

    Not much of a help when we see gas prices here going up this week by another 2 cents a litre. Keep the price of oil and the dollar going up and soon enough we will see the unemployed rise again and chop any gains we thought we saw right away. People need to continue to cut back on consumption rather then increase it. As soon as we increase consumption we pay for it in more ways then one.

  • Frankie
    July 01, 2010 - 19:52

    Whoo Hoo!!! Time to buy that BIG TICKET (Car, Bike Boat, etc.) item from south of the Border! Conspicuous Consumption bring it on!

  • Jimmy Mac
    July 01, 2010 - 19:47

    Even with parity, we still only get .96 cents on the dollar at the banks. I just bought $1000 Us and it cost me $1,040 Cdn. So exactly what does this mean to the average Joe?