It's gonna be Loonie in the future!

[Krustee]

I just posted a comment on the "Madame" thread making my predication about a prediction I have a predilection for coming to pass.

That being the return to parity of our beloved Loonie with the US Buck!

About a year ago we were sitting at par or slightly above with the greenback but it has slid slowly down hill since.

It seems I am not alone in my preoccupation in the provocation to progression & prodigious pullulation of the purchasing power of our perennial little Loon.

Nay I say to those who pander pessimistic proclamations pertaining to the price of our primly plumed "piasse".

The Loonie will find another opportunity for parity!

Friday's gains show loonie may rise to parity with U.S. Dollar, Gartman says

Jonathan Ratner, Financial Post Published: Tuesday, February 10, 2009

Calling the Canadian dollar's performance on Friday a watershed, Dennis Gartman thinks the loonie may be moving back to parity with the U. S. dollar, or even higher.

Coinciding with his visit to Canada, the editor of The Gartman Letter recapped the "truly unusual" events of Feb. 6, when January jobs reports were released on both sides of the border.

A worse-than-expected result saw Canada lose a whopping 129,000 jobs, bringing the unemployment rate to 7.2%. In the hours before the much more broadly followed U. S. employment situation report, the loonie fell sharply on the foreign exchange market - from $1.2375 (C$/US$) to nearly $1.2600.

However, after a dismal U. S. jobs report, the loonie began to strengthen. It rose further throughout the day to end on its highs relative to the greenback and stronger relative to the euro as well, Mr. Gartman wrote.

"The news was horrid, but the response was bullish, and as we try often to remind our clients around the world, a market that does not fall on bearish news is no longer. For the C$ on Friday, this is particularly so."

Canada's currency will return to par versus the U. S. dollar in as little as six months, Mr. Gartman told Bloomberg, citing a more stable political environment and a decline in commodity markets that has probably run its course.

"I can feel myself getting ready to be quite bullish on the Canadian dollar."

Bloomberg noted that Mr. Gartman's call on the Canadian dollar is at odds with economists' forecast. On average, 44 of them surveyed see the loonie weakening to $1.25 by the end of June before rising to $1.20 by the end of 2009. None expect parity this year.

http://www.financialpost.com/money/story.html?id=1271524

Your thoughts?

 

[rampart]

It only remains to be seen after President BO hits Canada. Some things in the first few months of his office may be tied to what comes out of his mouth and actions that are proposed between the US and its two closest neighbours.

Myself I see fluctuations with both the Peso and the Canbuck. I already scored on the conversion last August since I saw this past US election a repeat of 1976 and past performance had our dollar above par then shifting the other way. Only in this day and age with computers and technology things tend to move faster than back in 1976.

I took my US and converted to Gold a week after the election. Check the score sheet do the math.

As I said waiting to see what comes out of the Presidential visit before I make the next move.

Euros could be the next play. There has been some weakness there but that could turn around with some new economic strategies that will make Europe more powerful. I think the French, Germans, Italians, and the Scandanavian countries have something up their sleeves.

 

[Krustee]

Myself I see fluctuations with both the Peso and the Canbuck. I already scored on the conversion last August since I saw this past US election a repeat of 1976 and past performance had our dollar above par then shifting the other way. Only in this day and age with computers and technology things tend to move faster than back in 1976.

I took my US and converted to Gold a week after the election. Check the score sheet do the math.

As I said waiting to see what comes out of the Presidential visit before I make the next move.

Euros could be the next play. There has been some weakness there but that could turn around with some new economic strategies that will make Europe more powerful. I think the French, Germans, Italians, and the Scandanavian countries have something up their sleeves.

That's a good move dumping your cash for gold!
I have been advising some friends to do this with their cash holdings in savings, CD's & bond certs.

Right now I don't think the Euro is gonna pay to invest in & I don't hold your optimism about the union effecting a change in their economic dilemma anytime in the next 1.5 to 2 years.

I think Korea, Canada, China & Germany will be the ones to rise out of this mess first.
I know that the Krouts are part of the EU but they currently have a better handle on their economy than either France or the UK or Italy nor the 23 other members excepting Sweden who avoided the depth of other countries with the credit craze.

I see the Swedish krona to be a buy right now as it has slid far more than I think it should in comparison to other currencies.

Sweden's balance sheet is not near as bad as most other countries & they have a respectable GNP for the population.

 

[rampart]

As I said Euros "could" be the next play. Yes, I was talking about Sweden but I did not want to tip anyone off, big mouth Krustee. But what the heck were are poon pals here and if we can share the tip of good BJ why not an investment as well.

The next score is going to take more digging under the news and lots of phone calls to the insiders. Pay attention to what is not obvious.