How low can U.S. dollar go?

[iGas]

The Canadian dollar soared above US$1.05 for the first time since November 2007 on Wednesday

Scotia Capital currently has a year end forecast of US$1.05 for the Canadian dollar, and next year expects the loonie to close at US$1.09. ”All in all, we consider ourselves U.S. dollar bearish,” Ms. Sutton said.

T1 Canadian dollar = 1.05009 U.S. dollars at closing today. This is not good for the Canadian or US economy.

 

[mshan]

He thinks market sentiment is far too bearish, already. “To take a net short position now would be illogical. The boat is extremely crowded," he says. "Everybody is bearish the dollar. If Congress and the President make some kind of agreement on spending cuts the dollar could go 100 index points higher.”

http://www.cnbc.com/id/42682298

“Service sector inflation is now running at historical lows of little more than one percent, and here we are about to enter the third year of a statistical economic recovery,” said Rosenberg, formerly the economist at Merrill Lynch where he made his name by going against the perma-bullish Wall Street crowd. “Service sector inflation used to be sticky, because this area of the economy years ago was dominated by unions, was protected by entry barriers, and did not face much in the way of competitive pressures.”
http://www.cnbc.com/id/42663205

Sounds like shorting the dollar at these levels is just asking to get your face ripped off.

 

[GodlessAstronomer]

I see the Aussie dollar is worth more now too. The lower the better as far as I'm concerned, I'm loving the price of books on Amazon at the moment.

 

[OCGuy]

The Fed and Democrats would just like to keep printing money and putting it into the supply. Once it is worth nothing, then we can just send China and Japan one brick of gold to satisfy all debt.

 

[arkcom]

$.00009 ... Soaring...

 

[sdifox]

In the mean time, you don't see any sort of price adjustment on goods on our side. Instead we get inflation.

 

[iGas]

Sounds like shorting the dollar at these levels is just asking to get your face ripped off.

Agree.

It doesn't look good unless someone have insider information on what the Obama team going to do.

 

[sdifox]

Agree.

It doesn't look good unless someone have insider information on what the Obama team going to do.

even if obama cuts spending tomorrow by 20%, it will still not be enough. This is a structural debt problem that has built up over decades.

 

[iGas]

$.00009 ... Soaring...

Traditionally $1.00 CAD average around $0.80 USD, therefore the CAD is very high at the moment vs. the USD (75% of Canadian foreign trades is with the US). And, there was a time that $1.00 CAD = $0.63 USD.

 

[Qacer]

I'm hoping that other countries especially the Euro zone will try to do their best to get the dollar from soaring lower some more. Some say that a lower dollar would cheapen the cost of importing from the US. If measures are taken to prop the dollar up, so it would not be cheap compared to the Euro, then it would be a win for me during the next few weeks. That means I would be able to get more Euros for my dollar during my trip to Europe. After that, then I would like the opposite to happen when I come back so I can get more dollars for my Euros.

 

[sdifox]

ahahhaha, eurozone will collapse soon.

 

[Patranus]

Obummer.

 

[SandEagle]

i miss the days when $1 US = $119 CAN

 

[zanejohnson]

i think it's obvious to anyone who knows anything, we've hit the tilt.. there' nothing that can save the USA now...

 

[sdifox]

i miss the days when $1 US = $119 CAN

that day is still to come. when you slash 3 zeroes from your currency because there is no room on the bill.

IMF will not be able to bail out USA. Then we are all fucked.

 

[nick1985]

Obama has a plan

 

[zanejohnson]

Obama has a plan

he does. Infrastructure.


but nope, that can never happen because he's a puppet to the money, just like everyone else.. the people with money, will not be hurt, they are already putting there money in BRIC.

 

[zanejohnson]

rebuilding our infrastructure is the ONLY thing that COULD save us now. it puts people to work, and it lays the groundwork for us to be great again..but most of all, IT PUTS PEOPLE TO WORK.. that is what can flip this around.. but mark my words.. it won't happen.

America has to get over this greater than thou mentality because... shit. look where it's taken us.

 

[nick1985]

he does. Infrastructure.

High speed rail, lol!

 

[zanejohnson]

amnesty for illegals would also put SO MUCH MORE money into the economy.. that would be taxed...

 

[Nintendesert]

We need to raise taxes on the rich, then we'll be ok.

 

[zanejohnson]

High speed rail, lol!

that. and we need to get back to the basics. we have bridges falling apart, our infrastructure is the point where it needs to be replaced because it's simply too old, and was never equipped to withstand the abuse/high speeds/weather it carries..

 

[nick1985]

amnesty for illegals would also put SO MUCH MORE money into the economy.. that would be taxed...

lol, you are on a roll.

 

[zanejohnson]

We need to raise taxes on the rich, then we'll be ok.

we need to do this too, close the tax loopholes... and shit, if that means the big money leaves the US. that's a good thing, it actually allows small businesses to grow again.. right now they hit a glass ceiling.. that glass ceiling needs to be broken, so the little guy (who actually gives a fuck about the USA, can prosper)

 

[LiuKangBakinPie]

You know your economy is in shit when a million zimbabwe dollars equals to something in your currency