With regards to oil specifically, the US isn't buying as much as they used to which brings the demand for it down, hence less competition for sales and the going rate per barrel drops.Pangolino wrote:It's strange how the trouble in the US economy makes the US dollar strong vs. the Canadian + other currencies. I understand why it is, with commodity prices falling (and Canada's economy being so much in resources) and with investors being worried and shifting investments into US money and things you need US money for, but it's still bizarre that Canada is doing relatively well compared to the US and, because of that, the value of the money is plummeting. It has affected noticeably what I can afford to buy.
Like you said, with Canada being so dependant on resources to fund our economy, this causes the dollar to drop...
The world economy should have never been set up in such a way that one countries struggle should effect everyone else to this extent.
It’s time for a revamped system to be put in place…
Either way, all I know is that I've been getting royally screwed on purchases made in US dollars lately...
I'm putting an end to my buying here shortly.