PT6A posted:

Rime, forgive me if I don't take your financial advice at all seriously any more.

EDIT: That's stuff you're supposed to learn in grade 5 or 6, right?

Rime posted:

Can someone explain why the USD to CAD exchange is 10 cents higher on the USD side? How is it 1.40 when the inverse is 0.71? Shouldn't they be roughly equivalent?

Professor Shark posted:

You need to spend less time on SA

Professor Shark posted:

Your posting has devolved into some sort of impressive Something Awful Post Bot and it's really annoying, I bet if someone cared enough to go back to how you posted even just last year that they would find evidence of your actually personality in your posts.

I'm not trying to be too much of a jerk here, but your posts have become SA Bingo

Please be aware of your posting in the future is all I ask

Ikantski posted:

It's easy to understand if you look at things that divide evenly.

If the CAD is worth 0.50 USD then a USD is worth 1/0.5, 2 CADs.

If the CAD is worth 0.25 USD then a USD is worth 1/0.25, 4 CADs.

If the CAD is worth 0.01 USD then a USD is worth 1/0.01, 100 CADs.

If the CAD is worth 0.71 USD then a USD is worth 1/0.71, 1.4 CADs.

Playstation 4 posted:

This post is poo poo BTW, please practice your preachy.

Professor Shark posted:

My posts are works of art that age like fine wine, or cheese, or cigars (which I enjoy)

Cultural Imperial posted:

Rime, ignore these assholes, there is often a cost premium or 'spread' between the exchange rates set converting USD to CAD and vice versa depending on where you get the quote.

On the other hand there should not be a spread in the 'spot' price.

Rime posted:

Yeah, see, after 14 hours at work I go "Hmmm, 1 - 0.7 = .30. Odd, there's 10 cents missing here." gently caress ya smarmy bastards.


Cool, thanks for not being a smug rear end in a top hat unlike everyone else CI.

jm20 posted:

The current slide of the CAD is only getting worse, I should've bought more US dollars

Ikantski posted:

Ikantski posted:

The good news is that (imo) the slide is just starting. 0.72 will feel like a bargain a year from now.

Professor Shark posted:

Graphs should have sound effects

jm20 posted:

Just imagine that graph making this sound

quote:

Pimco joins growing chorus for Bank of Canada rate cut as loonie tumbles

Pacific Investment Management Co., one of the world’s largest investors, joined a growing chorus in the financial markets saying the Bank of Canada may need to cut interest rates with the nation’s economy still struggling to recover from collapsing oil prices.

The Canadian dollar reached $1.40 per U.S. dollar for the first time since 2004 Friday after wholesale trade unexpectedly contracted in October and core consumer prices rose less last month than economists forecast, continuing a run of worse-than– forecast economic data. Crude oil, until this year Canada’s biggest export, fell to a six-year low.

Prices for Canadian oil near a 2008 low means the central bank is more likely to cut rates, Ed Devlin, who manages the Canadian investments among the $1.5-trillion (U.S.) that Pimco oversees, said in a blog post Friday. The market seems to agree, with odds of a rate cut as early as next month rising.

“There is obviously concern the Canadian economy is still declining,” said Shaun Osborne, chief foreign-exchange strategist in Toronto at Bank of Nova Scotia. “That may require some additional attention from the Bank of Canada. That’s going to be a big concern from markets running into the January policy announcement.”

The loonie, as the Canadian dollar is known for the image of the aquatic bird on the $1 coin, fell as much as 0.5 per cent to $1.4001 per U.S. dollar. It rose 0.3 per cent to $1.3894 per U.S. dollar at 11:16 a.m. in Toronto. One loonie buys 71.97 U.S. cents.

Currency Swings The currency has tumbled about 17 per cent versus the the greenback this year, the worst performance since 2008. It is forecast to strengthen to $1.33 by the end of 2016, according to the median estimate in a Bloomberg survey of analysts.

The most bearish among the forecasts, however, from Macquarie Group Ltd., Morgan Stanley and Bank of America Merrill Lynch, see the currency falling to $1.45 per U.S. dollar next year as the market prices in growing odds of a cut.

Canada will report October gross domestic product numbers on Dec. 23 after data for the previous month showed an unexpected economic contraction. The economy has contracted during the first two quarters of 2015.

Trading in overnight index swaps suggest a 17 per cent chance the central bank will use its January policy meeting to cut interest rates 0.25 percentage point to 0.25 per cent – the record low set during the last recession. The likelihood of a cut by the end of next year is nearly 70 per cent after two cuts during 2015.

“I don’t think the Bank of Canada will be able to keep their rosy glasses much longer,” Thomas Costerg, a senior economist at Standard Chartered Bank in New York, said in an e– mail. “The data is weakening day after day, and that data still refers to before the recent leg down in commodity prices, which implies further downside risks in the data.”

Costerg said he expects an interest-rate cut during the first three months of next year.

Cultural Imperial posted:

http://www.theglobeandmail.com/repo...rticle27845884/


I really really really hope the boc cuts rates just in time for the spring house selling season in 2016

Mederlock posted:

drat, and I was only two weeks away from purchasing a new ~$900 instrument from the States... This slide in the loonie is just perfect. Is there any good reading on how international currency systems interact with each other that's accessible to someone who doesn't have an economics degree? I find this stuff interesting, but not interesting enough to bother buying a textbook or taking a course

Baronjutter posted:

More evidence "local small business" are greedy lazy idiots.
The paper today ran an article about a small local business that makes "small batch specialty ice cream" and how it was brutally shut down by government red tape. Why does the government want to destroy small business?! Why did these jackbooted thugs shut them down? Because they refused to label any of their products. They were just selling tubs of icecream with no info on the contents what so ever. All they need is a sticker listing the ingredients and standard nutritional info like every other commercial food product. They could have typed the labels up in less time than bitching to the news paper.

Small business, too loving stupid to adapt to the need to put a sticker on the food they sell.

Baronjutter posted:

More evidence "local small business" are greedy lazy idiots.
The paper today ran an article about a small local business that makes "small batch specialty ice cream" and how it was brutally shut down by government red tape. Why does the government want to destroy small business?! Why did these jackbooted thugs shut them down? Because they refused to label any of their products. They were just selling tubs of icecream with no info on the contents what so ever. All they need is a sticker listing the ingredients and standard nutritional info like every other commercial food product. They could have typed the labels up in less time than bitching to the news paper.

Small business, too loving stupid to adapt to the need to put a sticker on the food they sell.

Baronjutter posted:

They were just selling tubs of icecream with no info on the contents what so ever.

large hands posted:

Uhh no. That's an acquaintance of mine, it's pretty much a one person operation with occasional help. The ingredients are all labelled, just not the daily percent of vitamins/calories/fats etc. That would be pretty onerous for them as they make multiple different new flavours every month in batches of only a couple dozen pints. It does come across as kind of whiny to go to the cbc about it but do you really need to know the percentage of recommended daily intake of iron that's in your egg nog ice cream or w/e?

etalian posted:

So your friends started a business concept without thinking about meeting all the required government regulations?

Baronjutter posted:

Because they refused to label any of their products. They were just selling tubs of icecream with no info on the contents what so ever.

Lexicon posted:

Baronjutter is just sore; he hates it when anyone other than the proletariat owns the means of ice cream production

large hands posted:

haha, my friend is very much one of the proles. anyway she's probably going to just reduce to a couple of wholesale flavours for local supermarkets and keep selling the new flavours that she doesn't know the zinc content of in her shop and farmer's markets where that's allowed.

Ikantski posted:

Not trying to be insulting but wouldn't all of her government regulated ingredients have to list the zinc amounts and make it easy to figure out what her zinc per serving would be? Or do you need to pay a lot to get that analyzed in a lab for each product or something?

large hands posted:

she buys milk and eggs from local farmers and has weird ingredients like pine needles and stuff so she would have to get each tiny batch of ice cream lab analysed for content. i honestly don't have a problem with that, even though it's expensive; we all have to follow the rules. just pointing out that baronjutter is talking out of his rear end