It's been like this for a while now, too bad I'm not near the border to take advantage of it.
Yeah, but $1 AUD = $1.06 CAD...took a slight hit on the exchange rate today when I got some cash. But at least I can ball out when I get to Kiwi-land...our dollar is very strong against their currency :awe:.
No VAT = still cheaper to buy in the US.
Larger market with more stocks doesn't necessarily mean better for investment. There are transaction fees that you have to pay for converting CAD into USD and back into CAD that an investor should also consider.I recently bought a LOT of US currency with CAD money at/near par. Betting that in the longer term (year+), the Canadian dollar will die down again. While I wait, I'm trading US stocks, which is so much funner.
Think I heard/read somewhere that a high Canadian dollar is bad for the Canadian economy. Higher it is, the less people buy from us (exports < imports), so economy "dies", and it goes back down, rinse and repeat.
Larger market with more stocks doesn't necessarily mean better for investment. There are transaction fees that you have to pay for converting CAD into USD and back into CAD that an investor should also consider.
Another downer is that dividends in US market isn't tax deductible, and dividends in Canadian stocks are tax deductible.
I have played the US stock market and learned that there is no advantage trading in the US market over that of Canadian even with strong Canadian currency.
It is true that high CAD is bad for Canadian economy, but that is base off the world relative price not the USD. The CAD is relatively cheap compare to the AUD and the rest of the world currencies, hence the mining industry in Canada are doing very well because the Asian have a great demand for minerals and most of it come from Australian or Canada.
1CAN = 1.35 NZD. However I don't know what $1 NZD buys you there so that doesn't tell you much by itself.
It's the price we pay for living so far away from the rest of the world. Most cars you see on the road here are Japanese imports and probably 80% have 2l or smaller enginesDamn... And I thought our gas was expensive.
In the 90's, it was 1.00 US = .70 CAN We went to Windsor and I came back with a bunch of Canadian cash. Last year I traded it in when the dollar sunk and make close to .35/dollar
Damn... And I thought our gas was expensive.