Currency: U.S. Vs. Canada

[Andrew]

http://canada.com/national/story.asp?id=51F91939-69E4-43E0-8D46-0503AED54738

Jobs: We're hot, U.S. is not

Hiring in quebec soared in november. Report on employment boom boosts loonie; weaker U.S. figures disappoint analysts

The Gazette

Saturday, December 06, 2003

54,000 new jobs, 3X higher than expected

57,000 new jobs, 3x lower than expected

Canadians are on a hiring spree.

The nation's economy generated 54,000 additional jobs in November - most of them in Quebec, Statistics Canada revealed yesterday.

The unemployment rate dipped to 7.5 per cent, from 7.6 per cent in October and eight per cent in September. In Montreal, the unemployment rate dropped to 9.4 per cent in November from 10 per cent the month before.

It marked the third straight month of healthy job creation, surprising analysts and giving the loonie a dramatic boost amid signs the economy is growing at a faster clip than economists had earlier predicted.

"There was not a single real pocket of weakness in the November job tally," said Marc Lévesque, senior economist with the TD Bank Financial Group.

The U.S. unemployment rate also declined - by one-10th of a percentage point to 5.9 per cent in November. But the details of the report yesterday from Washington were much weaker: 57,000 positions were created, about one-third the total that American analysts had expected.

"The U.S. figures are a little disappointing," said Carlos Leitao, chief economist with the Laurentian Bank.

For more details, see 'Canada posts strong job numbers' in The Gazette's Business section.

I also noticed the Canadaian dollar lately has risen a lot, anyone think it's possible for the Canadian Dollar to surpass the United States? Maybe Canadians will be going to the US because of good exchange rates in the future, and international (professional sports) people will be payed in Canadian dollars instead of American. Will it ever happen? or will the two currencies merge once they become even (if ever)?

[Mahdi]

The Canadian dollar isn't rising, the American is dropping.

[Andrew]

Maybe Canada could be the next superpower? We buy all of Americas weapons and stuff. Then they can be our pawn..bwhahahaha. Newfoundland will be the eqivilent of Florida where everyone will go in the winter for vacation. ;)

Maybe if America dollar drops too much they will want to join with Canada's currency.

[Gobalopper]

Who wants to work in Quebec though?

And the US would never choose to use the Canadian currency, there are a lot of other factors that impact the value of the dollar.

[Egeides]

Me Gob, since I'm a Quebecer.

I don't think that the loonie will pass the eagle for very long since anyway the US economy is stronger and what makes the dollar go down is circumstancial.

[Acriku]

We would find ways to fix our inflation problems before adopting new currency, especially Canadian! ;)

[Andrew]

If you adopt our currency you get a free 12 pack of beer.(and it is good beer)

I wouldnt mind working in Quebec City. make like more than $40 an hour as a busker in the spring/summer.

[Egeides]

Acriku: Don't worry, I understand you. We have NAFTA here ;D

Besides, what's that thing about work in Quebec? A counter-reaction to separatist politics?

[Acriku]

Heh, NAFTA might be branched out to an extra 30 countries in some time.

[Egeides]

I know... and they want to make education a private investment thing, so that everyone's global costs will go up. Horray for education in our society. And even if Canadians were against it in polls and so on, they signed NAFTA and what followed anyway :-X

[Mahdi]

Acriku: Don't worry, I understand you. We have NAFTA here ;D

Besides, what's that thing about work in Quebec? A counter-reaction to separatist politics?

All the frogs and crazy frog drivers....

;)

[nemafakei]

What if the US joined the Euro?

(The only way Britain will agree to a single monetary union of Europe is if the money is the Pound Sterling.)

[Acriku]

Wouldn't the value of such be dependent on outside governments, then?

[Atomic Mitten]

Hear hear Nema !

Sod the Euro who needs it anyway ?

English firms do enough overcharging without the Euro as an excuse to bump up retail prices even more, than they do already.

Do the British public realise that German and other European prices are 60% cheaper than in the UK, and no, the popular myth that German wages are higher than the UK is not true.

P.S. I was in Germany during the Euro introduction the price increases were outrageous in some cases, especially those from BP.

[Caid Ivik]

I was studying with one financial strategist and it seems that $ inflation is artificially stimulated to boost economy. Like a steroides for their finances. It's weird, but while dollar falls, american actions rise quickly, so I've just sent half of my investments to dollar funds...

[Andrew]

Just noticed the American dollar is falling more. Canadian dollar worth 79 cents American, lol, Don't remember it ever being that high before.

I say put our currencies together and be a currency superpower. :)

Nah, Canadian dollar will surpass american lol. ;)

[Mahdi]

Just noticed the American dollar is falling more. Canadian dollar worth 79 cents American, lol, Don't remember it ever being that high before.

I say put our currencies together and be a currency superpower. :)

Nah, Canadian dollar will surpass american lol. ;)

Back before Trudeu screwed it up, the Canadian dollar was always worth more than the American.

[Andrew]

Back before Trudeu screwed it up, the Canadian dollar was always worth more than the American.

That would be a good reason why I do not remember it. :)

Maybe Martin will fix it up. Looks like he's handling the mad cow and iraq issues nicely, but I'm sure that is just politics to make both the primeminister and president look good for the upcoming elections.

[Wolf]

You want your currency's value to be low in relation to other currencies. If the value of your currency is high, it is more expensive for foreigners to invest in your country. If more foreigners invest, the more money you get, and the more trade.

Personally, I see a rising Canadian dollars a problem for Canada. They should drive up interest rates to make up for it.

[Andrew]

Yeah, it will be a big problem for canada, the atlantic canada especially for fishing and tourism. And without tourism pei won't make any money.

[nampigai]

You want your currency's value to be low in relation to other currencies. If the value of your currency is high, it is more expensive for foreigners to invest in your country. If more foreigners invest, the more money you get, and the more trade.

Personally, I see a rising Canadian dollars a problem for Canada. They should drive up interest rates to make up for it.

I don't think it's the canadian dollar that's rising, it's the U.S. that's in a downfall, it has been for some time now.