Dollar to drop to $0.65

mshanson3121 · Feb 20, 2017

So I saw on the news they expect the loonie to fall to $0.65 by summer. That hurts. How will that affect you for planning?

xlxo · Feb 21, 2017

For the last couple of years.... I notice the Canadian dollar has peak around late April or early May on charts due to oil demand. That's when I plan to do some conversions.

https://ca.finance.yahoo.com/chart/CADUSD=X?ltr=1

Lesverts · Feb 21, 2017

They say this nonsense all the time. We have no idea where the dollar is going to go. It has been stable around .76 for almost 3 months now.

Scar1199 · Feb 21, 2017

Loonie prices are about as accurate as a 14 day forecast. When we started planning our Disney trip last summer it was reported that the dollar would hit the mid to low 60s, I think it got down around 68-69 in the fall but has returned to stay around 76 for awhile now. It does hurt the pocket that's for sure, especially when we went the last time, it was in the 90s. The ticket discount was a huge bonus that I wasn't expecting.

pigletto · Feb 21, 2017

I plan to pay off my trips as soon as I can so that I don't run into any major drops, but like the others said, they say this stuff all the time. It's about as accurate as weather forecasting. It may happen. It may not.

PanamaMike · Feb 21, 2017

Whenever I see posts about what's going to happen to the $, I always think about this quote from The West Wing:

Leo McGarry: Luther, ballpark, one year from today, where's the Dow?

Economist #1: Tremendous. Up a thousand.

Leo McGarry: Fred, one year from today?

Economist #2: Not good. Down a thousand.

Leo McGarry: A year from today at least one of you's gonna look pretty stupid.

Lesverts · Feb 21, 2017

This is not to be taken as political, just a fact about our dollar;

US policy seems to want to weaken their dollar
Canadian dollar is driven a lot by oil, oil is looking to be stable or moderate price increases through the summer
Canadian job and housing numbers remain strong
Full impacts of infrastructure spending will start to be felt mid to late year

Given everything the dollar being somewhere in the 70's for the foreseeable future is likely.

I also us a quick 1.4 dollar in my head when I am thinking of US prices. So I undervalue the dollar so I don't get any shocks later.

ottawamom · Feb 21, 2017

Lesverts said:
This is not to be taken as political, just a fact about our dollar;

US policy seems to want to weaken their dollar
Canadian dollar is driven a lot by oil, oil is looking to be stable or moderate price increases through the summer
Canadian job and housing numbers remain strong
Full impacts of infrastructure spending will start to be felt mid to late year

Given everything the dollar being somewhere in the 70's for the foreseeable future is likely.

I also us a quick 1.4 dollar in my head when I am thinking of US prices. So I undervalue the dollar so I don't get any shocks later.

Definitely not politics, it's Economics!

Maddysdaddy · Feb 21, 2017

Predicting the dollar seems to be about as accurate as predicting the weather, and maybe even less so, given the uncertainty in the world these days. The Saudis could decide not to abide by the production cap and oil could drop significantly tomorrow, or there could be an unexpected disruption in production and oil could jump back to $70 overnight.

If things remain as they are, based on my limited knowledge, there is likely no reason to expect the dollar to drop 15% by summer.

mshanson3121 · Feb 22, 2017

It would be nice if it stays stable. We're headed to New Hampshire in June, then of course our disney trip next June. A lot of US money to buy over the next 16 months.

From what I heard (replying to the economics above), was that one of the main factors for the predicted drop in the dollar was a) that oil is supposed to stay stable and a small increase really won't raise the value of our dollar much and b) the US is expected to raise their interest rates, which will strengthen their dollar

daver · Feb 22, 2017

A new way I have to save a bit of extra U.S. cash. I enrolled in that thing that most bank offers now. Every time I use debit etc, they will transfer 75 cents to an account of choice like a savings account. It doesn't take long to get 30-40 dollars in the account, then I transfer to a U.S. dollar account. Since the dollar an fluctuate weekly, when I see it go up a penny or 2 I'll transfer the money.
Our dollar is heavily influenced by the price of oil and gold, if they start to climb back up, it will help the dollar get some legs again!

Sue M · Mar 1, 2017

Going to start transferring more $$ to my USD acct :worried:

mshanson3121 · Mar 1, 2017

daver said:
A new way I have to save a bit of extra U.S. cash. I enrolled in that thing that most bank offers now. Every time I use debit etc, they will transfer 75 cents to an account of choice like a savings account. It doesn't take long to get 30-40 dollars in the account, then I transfer to a U.S. dollar account. Since the dollar an fluctuate weekly, when I see it go up a penny or 2 I'll transfer the money.
Our dollar is heavily influenced by the price of oil and gold, if they start to climb back up, it will help the dollar get some legs again!

What banks are offering this? Are you sure it's $0.75? I mean, that would mean for the average person they're probably transferring $3-5 a day.

ilovetotravel1977 · Mar 1, 2017

I put any money earned through my Ebates and Checkout51 accounts into my US account. I also put any refundable recyclables money in there too. It adds up over time.

Frozen2014 · Mar 1, 2017

Hope the prediction is wrong. It's been (very) slowly compared with a year ago and was hoping it would do so for the summer. We're heading to DL in August.

dancin Disney style · Mar 1, 2017

Darn it all.....the exchange rate on the weekend was 1.34 and today it's 1.37. Not a huge deal really but I need to exchange $1000 for my trip next week and figured I could take care of it later.

mort1331 · Mar 1, 2017

Yup heading down in 2 weeks, rolling the dice with the dollar, we will see where we will be in 2 weeks

daver · Mar 1, 2017

mshanson3121 said:
What banks are offering this? Are you sure it's $0.75? I mean, that would mean for the average person they're probably transferring $3-5 a day.

I'm with TD Bank and they do it. I cannot remember the exact minimum and maximum,but I chose 75 cents per transaction ( debit and bill pmt I believe)

mshanson3121 · Mar 1, 2017

daver said:
I'm with TD Bank and they do it. I cannot remember the exact minimum and maximum,but I chose 75 cents per transaction ( debit and bill pmt I believe)

Ahhhh. So they don't give you money, they just shift your money around. That makes more sense!

Dollar to drop to $0.65

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