US$ exchange gray train over?
Thread Starter
AutoX
Joined: Feb 2004
Posts: 13
Likes: 0
From: Edmonton, Alberta
US$ exchange gray train over?
I was about to complete a deal on a US 2007 Infiniti FX35 for my wife last Tuesday after basking in the glow of our superfat dollar for the last month. I cut my best number and then called the bank for the wire amount and just about choked when they said "par". Now par on a wire purchase is still nice and makes it attractive to import some vehicles if it is anywhere close. I paid 8k exchange when I bought my 02 Viper in 2006 so I should be happy but the $1.09 loonie has me spoiled. There are purchases I would have definitely made 3 weeks ago(if I wasn't sleeping at the switch) that I wouldn't consider today.
Does anyone think the loonie will squeek over $1.05 US again this year or will the change in interest rates be the silver bullet that drags us down?
Edit "Gray train" Whatever
Does anyone think the loonie will squeek over $1.05 US again this year or will the change in interest rates be the silver bullet that drags us down?
Edit "Gray train" Whatever
Last edited by nuck; Nov 24, 2007 at 05:31 PM.
Rennlist Member
Joined: Aug 2003
Posts: 2,888
Likes: 119
From: Canada
Better to exchange some Canadian dollars into US dollars on days that our dollars are strong, and put them away in an US account. This way you can purchase at your own will without worrying about the exchange rate.
Drifting
Joined: Jul 2007
Posts: 2,115
Likes: 133
From: Newfoundland
Trending Topics
Rennlist Stories
The Best Porsche Posts for Porsche Enthusiasts
Talos Takes Your 991 Porsche 911 GT3 to the Next Level for a Cool $1.13 Million
Verdad Gallardo
9 Vehicles Porsche Helped Engineer that Aren't Porsches
Verdad Gallardo
9 Features and Characteristics That Only Porsche People Understand
Verdad Gallardo
I've Written 500 Rennlist Articles: Here's How Porsche Has Changed Along the Way
Joe Kucinski
10 Most Unnecessary Porsches Ever Built (And Why We Love Them)
Verdad Gallardo
Porsche 911 GT3 S/C vs 718 Spyder RS: 10 Categories, One Winner
Joe Kucinski
This Builder Is Turning Heads With Its Slantnose 911 Creation
Verdad Gallardo
Porsche 911 GT3 Artisan Edition Pays Homage to Japanese Culture
Verdad Gallardo
Porsche Reveals Coupe Variant of the Electric Cayenne With a Fresh Look
Verdad Gallardo
Track Day
Joined: Dec 2004
Posts: 20
Likes: 0
The US import issue is the CMVSS114 immobilizer standard which is unique to Canada, thanks Transport Canada. Pre Sept 1 2007 manuf cars are good to go. Maybe post cars situation will get straightened out but bureaucracies have a stubborn magnetic like draw to bad policy. Transport Canada needs to accept the Virtually identical US standard FMVSS114.
The C$ ran up to fast. It should go up to 1.20 - 1.25. The US dollar has a long way to fall yet. The caveat is central bank intervention. Currencies are supposed to be free floating, but everyone wants a low currency. So, currency manipulation by the Bank of Canada will try to keep the C$ down. Although that is not the job for the Bank of Canada. However, the more intervention by Central Banks around the world, the higher inflation and commodities. In the long run commodity producing countries will become wealthier and have to fight a higher currency. At least until the Yuan and US dollar find an equilibrium. Either the Yuan rises or the US$ drops, mostly the latter.
The C$ ran up to fast. It should go up to 1.20 - 1.25. The US dollar has a long way to fall yet. The caveat is central bank intervention. Currencies are supposed to be free floating, but everyone wants a low currency. So, currency manipulation by the Bank of Canada will try to keep the C$ down. Although that is not the job for the Bank of Canada. However, the more intervention by Central Banks around the world, the higher inflation and commodities. In the long run commodity producing countries will become wealthier and have to fight a higher currency. At least until the Yuan and US dollar find an equilibrium. Either the Yuan rises or the US$ drops, mostly the latter.
Drifting
Joined: Oct 2001
Posts: 2,156
Likes: 5
From: Ontario or SC
The C$ ran up to fast. It should go up to 1.20 - 1.25. The US dollar has a long way to fall yet. The caveat is central bank intervention. Currencies are supposed to be free floating, but everyone wants a low currency. So, currency manipulation by the Bank of Canada will try to keep the C$ down. Although that is not the job for the Bank of Canada. However, the more intervention by Central Banks around the world, the higher inflation and commodities. In the long run commodity producing countries will become wealthier and have to fight a higher currency. At least until the Yuan and US dollar find an equilibrium. Either the Yuan rises or the US$ drops, mostly the latter.
IMO... politics aside, it's all about the global economy becomming more commodity and resourced based, CA$ will continue to remain strong because it's resources are in demand while the the US$ will continue to devalue because the USA are consumers, for the most part their best resource for export is intellectual propery and we all know how much the chinese and other developing countries respect and pay for this resource.
Advanced
Joined: Jan 2004
Posts: 82
Likes: 0
From: Canada
Have you researched bringing an FX?
Not so easy to get the daytime running lights working. There's no switch like Porsche, completely different computer system. You can however "hotwire" your xenon lights to run all the time but they'll burn out quicker and at $300 a pop that's not cheap. You will also void part of your warranty relating to electronics...do some research before taking the leap.