CDN Dollar - Oil Prices - Any change in Calgary?

[modded46]

Just wondering with the latest news..

The Canadian dollar tanking & Oil prices right behind. Are you guys feeling it in Calgary at all??

USD to CAD
(N/A: USDCAD=X)
Last Trade: 1.1484

PETROLEUM ($/bbl)
PRICE* CHANGE % CHANGE TIME
87.57 -1.38 -1.55 10:53

[adam c]

it's the other way around

oil prices tanking and it's taking our dollar down with it

[rc2002]

Originally posted by modded46
Just wondering with the latest news..

The Canadian dollar tanking & Oil prices right behind. Are you guys feeling it in Calgary at all??

Nope, doesn't feel any different - still feels like a boom here. If anything, I've noticed more activity at the malls and restaurants and general public. In fact almost all the overpriced houses in my neighborhood have just sold in the past couple weeks. Some of them weren't even on the market for very long.

[ExtraSlow]

In one way, this will be good for calgary, as the energy industry is not likely to see as much of a slowdown as the rest of the economy, so on a relative scale, we'll gain.

But, the value of energy stocks has plunged, so that's been hard on the portfolios of people around here, who tend to be heavily invested in the energy industry.

[89coupe]

Originally posted by modded46
Just wondering with the latest news..

The Canadian dollar tanking & Oil prices right behind. Are you guys feeling it in Calgary at all??

USD to CAD
(N/A: USDCAD=X)
Last Trade: 1.1484

PETROLEUM ($/bbl)
PRICE* CHANGE % CHANGE TIME
87.57 -1.38 -1.55 10:53

Oil companies couldn't be happier that the dollar is tanking because we sell our Oil in US Dollars!!!

[Tik-Tok]

Originally posted by modded46
Just wondering with the latest news..

The Canadian dollar tanking & Oil prices right behind. Are you guys feeling it in Calgary at all??

Well, gas at the pumps is lower than we've seen it in a year, and there's a recent thread on where to buy Truffles/Truffle oil.

So no, I'd say most people aren't feeling it yet.

[bigboom]

Originally posted by 89coupe


Oil companies couldn't be happier that the dollar is tanking because we sell our Oil in US Dollars!!!

qft. this will hopefully spike a uptick in commodity prices since it should be more affordable now.

[modded46]

Originally posted by richardchan2002


Nope, doesn't feel any different - still feels like a boom here. If anything, I've noticed more activity at the malls and restaurants and general public. In fact almost all the overpriced houses in my neighborhood have just sold in the past couple weeks. Some of them weren't even on the market for very long.

That's interesting considering the numbers show differently...

For single-family homes in Calgary metro, sales until the end of September have plunged 25.1 per cent compared to the same time a year ago while the average price has dropped by 2.4 per cent.

For condos in Calgary metro, sales are off 30.2 per cent and average prices are down 3.3 per cent year-to-date.

Maybe this has turned around in the past couple weeks like you said, if so that's great news for the city..

[modded46]

Originally posted by 89coupe


Oil companies couldn't be happier that the dollar is tanking because we sell our Oil in US Dollars!!!

But you can't make up the difference of $147.00/bbl compared to 87.00/bbl with the currency exchange.. Not to mention that the cost of their supplies such as steel also go up.

More foreign investment from the U.S. into the industry in Calgary I can definitely see happening again if it's worthwhile for them to make money on the price of a barrel.. More so with the Oil Sands where its more expensive to get the oil out of the ground.

[modded46]

Originally posted by bigboom


qft. this will hopefully spike a uptick in commodity prices since it should be more affordable now.

I don't see that happening anytime soon.. The world economies are in the shitter and because of this people don't need as much oil.



Not that I'm complaining for the most part when I see $2.86 a gallon for gas around here

[Xtrema]

Originally posted by modded46


I don't see that happening anytime soon.. The world economies are in the shitter and because of this people don't need as much oil.



Not that I'm complaining for the most part when I see $2.86 a gallon for gas around here

Speculators are causing the wide swings.

One minute they are forecasting $200/bbl and next they are forecasting $50/bbl. It's crazy.

[89coupe]

I would much rather be in Canada's shoes right now then the US.

[modded46]

Originally posted by 89coupe
I would much rather be in Canada's shoes right now then the US.

Of course you would, you're in Canada not the U.S.. duh.

The point is that I can't see how the economies around the world can't be effected when you have a global downturn like this.. The first to dip ie. the U.S. will probably be the first to bounce when it does.

You have banks all over the world failing or cutting interest rates.. It's bad no matter where you look.

As someone I know used to say.. It's a big shit sandwich and we all have to take a bite .

And I'm curious to know. How do you think that Canada is any better off than the U.S.? Do you think Canada is immune to a housing crisis? Do you think Canada has the money to support a bailout type package for bad loans? etc..

[89coupe]

Originally posted by modded46


Of course you would, you're in Canada not the U.S.. duh.

The point is that I can't see how the economies around the world can't be effected when you have a global downturn like this.. The first to dip ie. the U.S. will probably be the first to bounce when it does.

You have banks all over the world failing or cutting interest rates.. It's bad no matter where you look.

As someone I know used to say.. It's a big shit sandwich and we all have to take a bite .

And I'm curious to know. How do you think that Canada is any better off than the U.S.? Do you think Canada is immune to a housing crisis? Do you think Canada has the money to support a bailout type package for bad loans? etc..

The difference is the US has no more room to cut. The rest of the World does.

[modded46]

Interest rates you mean? This is true, but that's not the issue here.. it's not that it's too expensive to borrow money, the problem is there is no money to borrow period. So governments are having to print money and this is why you're seeing the drop in the CDN dollar as well as the Euro. etc..

[sputnik]

Originally posted by modded46
You have banks all over the world failing or cutting interest rates.. It's bad no matter where you look.

Canada is #1 when it comes to banking. (USA is #40 and the UK is #44)

http://www.reuters.com/article/ousiv...4981X220081009

[rc2002]

Not to mention that taxpayers are footing the bill for the Wall Street bailout and watching their investments fall (the stock market, real estate, etc.) at the same time. I'd be livid if I was an American taxpayer.

If you want to speak in metaphors the US is going to take the biggest bite out of the "shit sandwich".

[rc2002]

Originally posted by modded46
Interest rates you mean? This is true, but that's not the issue here.. it's not that it's too expensive to borrow money, the problem is there is no money to borrow period. So governments are having to print money and this is why you're seeing the drop in the CDN dollar as well as the Euro. etc..

No one is printing money as fast as the Americans are which is going to lead a devaluation in the US currency.

You're seeing the drop in the CDN dollar because of commodity prices. And the drop in the Euro because their rescue efforts lack coordination.

These economies aren't as hard hit though and will bounce back before the US.

[modded46]

What kinda garbage rating system is this??


Canadian banks received 6.8, just ahead of Sweden (6.7), Luxembourg (6.7), Australia (6.7) and Denmark (6.7).

UK banks collectively scored 6.0, narrowly behind the United States, Germany and Botswana, all with 6.1. France, in 19th place, scored 6.5 for soundness, while Switzerland's banking system scored the same in 16th place, as did Singapore (13th).


haha so you're .7 points behind and you're 40th place?? Um, ok.

[modded46]

Originally posted by richardchan2002


No one is printing money as fast as the Americans are which is going to lead a devaluation in the US currency.

You're seeing the drop in the CDN dollar because of commodity prices. And the drop in the Euro because their rescue efforts lack coordination.

These economies aren't as hard hit though and will bounce back before the US.

I disagree completely with this statement.. How can you say everything is good for Canada when the dollar is so closely linked to commodities? Yet you're seeing commodity prices plummet for everything other than gold?? Look at natural gas.

Henry Hub Spot 6.59 -.16 -2.37 10/08

You really think that Canada can survive and more so the natural gas companies with 6.59 for Natural Gas?? come on man.. How can you be so naive?

And if you don't think these economies aren't hit as hard look at other stock markets..

BRAZIL BOVESPA - 52 Week Range 37814.40 - 72861.90 - Last Sale 39144.69

Oct. 8 (Bloomberg) -- Japan's shares plunged, driving the Nikkei 225 Stock Average to its third-largest decline. The accelerating credit crisis prompted a sell-off that erased more than $250 billion in equity value.

The Toronto Stock Exchange's main index dropped nearly 4% yesterday to end below the key 10,000 level for the first time in three years as fears that the credit crisis could balloon to a global recession prompted broad selling.