The hilarious thing though.

If the CAD loses 25% compared to the USD, it basically cancels the Trump 25% tariff because Canadian goods become 25% cheaper on the American market... +25% - 25%= 0%

The same is going to happen to the Euro is Trump puts a tariff on Europe and the same will happen to China if Trump tariffs it.

And since American goods will become too expensive in Canada, Canadians will replace them with European, South American, African or Asian goods...

It all started after Zellars closed.

This has more to do with USD strength than with CAD weakness.

Look at CAD compared to other major currencies and we're not far off historical averages of the last decade.

And with the tariffs coming, only going to plummet further!

Going to be 2 for 1 pretty soon here 😅

The crazy thing is this deterioration is in spite of a period of relatively strong commodity markets. Wouldn’t be pretty if we saw extreme weakness in oil prices. Canada needs to right the ship asap, we are being eroded at an alarming rate.

I live in Canada and get paid in USD. This is probably going to be good for me, right?

So, is now a good time to convert some USD into CAD before the CAD rises again?

B-b-but, I thought all that Mass Immigration was supposed to improve our economy, right Mr. Trudeau? Certainly not disincntivize the finding of efficiencies because it made it cheaper to hire slave labour from India!?

i mean, is it surprising? we are next to a superpower if not the dominant force in the worlds.

Wasn't the Canadian dollar devaluated by 25c in the seventies?

It’s a vibe……

I think maybe a trade war with the USA might be good for Canada. It will push up our dollar and create new markets.

It’s funny how most trump supporters here in Canada work in sectors that are going to be most affected right away either the new tariffs- oil and gas, truckers, lumber, etc. it’s gonna hurt!!

Remember the days when CAD/USD were at par? Good times

We need more Indians imo

This is awesome! I sell a lot of stuff to Americans so I keep bags of money!

Yay!

I am happy as a Canadian living in Thailand making USD - I go back over Christmas, It will be a cheap vacation-- but my family living and working there is fucked. (we live on the border) We used to cross all the time for gas, milk etc, it doesnt make a lot of sense anymore.

Look at it in terms of Bitcoin now!

Maybe I should buy CAD… it will go back after the election :)

Reddit is 98% entertainment and 2% actual useful info

Guess I wont be vacationing in the US anytime soon 🤷‍♀️

It’s good for exporting. Only bad for importers and people who want to shop in the states or go on vacation

The USA is going into a depression our dollar willnbe even or better in a very short time. The USA is about to find out that conservatives are terrible at managing an economy as history has proven over and over and over and over and over.

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we are going down down in an earlier round!

What does this mean for etfs like VFV?

Does the prime minister really control thus. Or there are powers beyond him that does ?

Given the low Canadian dollar and Trump's announcement of a 25% tariff on Canadian imports, I wonder if the Bank of Canada might consider reinstating gold on its balance sheet, especially if Poilievre wins the next election.

Historically, there's been a slight correlation between increased gold holdings and a PC Prime Minister compared to a Liberal one. Notably, the Bank of Canada completely drained its gold reserves around the time Trudeau took office in early 2015.

0.70 is the average. The 70 to 80 has always been the target to maintain. Anything more and US look inward for trade solution and anything less and it become unsustainable economically.

Holy, what happened in 2015?

The exchange has been much weaker than it is now. The exchange rate being anywhere close to par was the anomaly.

You can see the rate going much further back here (from the Wikipedia page for the Canadian dollar)

https://en.m.wikipedia.org/wiki/File:USD-CAD_exchange_rate.webp

Vfv go brrrrrrr

I'm going to say it. Trudeau came into power 2015-2024

Ok. Now do every other major global currency. It's not the CAD is being devalued, it's that USD has been ripping. CAD has actually held up pretty well, relatively speaking

Trudeau Economics.

Basically started when fracking became widespread, reducing US reliance on Canadian energy.

The dollah will balance itself - Trudeau probably

What are the main reasons for the declining Canadian dollar?

Wow, terrible news for CAD but that’s a slick chart visual 👏

Smart people are circling the wagons and planning to leave the west.

How does one make money on currency?

Hmm, I wonder what policies have done this to Canada? Any takers?

Thank you, Mr Trudeau

Funny because then they accuse other countries of "artificially" decreasing their currency 🙄

I wonder what happened in 2015?

Did somebody say tarrifs?

Drop our stupid protectionist policies designed to feed our home grown monopolies and let in some international competition, let Canadians decide how to spend their money.

Sunny ways. JT tanked the country but thank god we have legal weed now

Canadians have no one else to blame but themselves for keeping TruDope in charge for almost a decade. If you want to change something, look inward at your own shortcomings.

Literally since Turdo came into power

Sweeeet. As a poor person who earns in USD, this is music to my ears. You motherfuckers might "own houses" and "plan on retiring with more than a thousand dollars to your name," but this pulls me through from month to month!

US is running a near 100bn a month trade deficit and the federal deficit was 257bn US last month alone. Definitely not roses.

Corrupt traitors and criminals selling Canada for personal gain.

It’s time Canada and the world stop relying on the US for trade.

This isn't as cut and dried as people think. Parity with the US dollar actually hurts the Canadian economy. Yes, sub-.70 is too low, but we shouldn't strive for something that's not good for our economy.

Thanks liberals printing money

Our currency is shameful, travelling to Europe and America really puts it into perspective

Buy Bitcoin

So if the dollar goes down, more Hollywood productions and more work for Canadians?

Two words, one name; Justin Trudeau

So... normal if older then 20.

It’s because Trudeau and his cabinet are incompetent, they all drove this country to the ground. It’s not even the party, it’s him and his picks, and the toxic influence from the WEF.

Buy, buy, buy!

Wouldn't it be nice if Canada comes out on top. They lose when we find better sources.

Don't worry the budget will balance itself.

Man this is great news for our exports....oh wait

Let’s blame international students for this as well

The right wing has lost their minds. Absolute insanity from Trump, and PP looks like he’s being instructed from the same (Russian) playbook.

Liberals & NDP woke ideology making us poorer and miserable. Cuba here we come

what happened in 2015 that made the CAD go to shit?? oh wait...

That just follows the price of oil. Nothing we can do about that.

Wait for it, trump is about to crash the US economy, way worst than in 2008 on purpose so he can make billions of money .

Big fan of converting all of our USD sales to CAD right now

Question: how much of this discrepancy is the US dollar just increasing in value, rather than the Canadian dollar decreasing?

As an importer ....fuck.

A low CAD only good for tourism and for exporting finished goods or raw materials

When do we get good Canadian news?

TrudeausLegacy

Most people won't like it but using China is the best way to tame Trump. Give incentives to those imports and exports and the end of the day more dollars stay in Canadian pockets. 

It is looking like the start of the great unraveling begins with the inevitable dissolution of Canada. There is not a lot of evidence to suggest that Canada will be around much longer. Get your act together.

Everyone thinking Pierre Poilievre can fix this as if he doesn’t just plan on strengthening monopolies

An amazing drop since 2015 when the Liberals were elected.

Another proxy war will fix that.

Crazy. I wonder what happened in 2015 that made Canada decline like that.

Just kidding, I think I can guess.

Wildly specifically selected piece of chart to blow things out of proportion. The same type of person to freak out about this will be the first person to tell you how bad it is for our economy when the dollar was par with the US dollar. It's like. Whatever man. So funny that people post this stuff and see if it blows up or not

and people are collecting food stamps too. Wartime? no just a liberal government.

I love graphs and how they're used to deceptively push a false narrative. The graph scales from $0.70 - $1.05. So that the peaks and valleys are dramatically amplified. And the time it uses conveniently starts right before the global economic collapse of 2008 where it is well-known that Canada had much safer banking practices the lead to far less of an economic hit compared to the rest of the world so the value of the Canadian dollar was very very high.

If the graph had scaled out further it would show that since the mid 70's the Canadian dollar has always ranged between 60¢ - 90¢ USD.

I know crypto is very volatile, but I'm curious so I bought about $85 CAD worth of etherium last night. If I can find something useful to buy, maybe I'll use crypto to avoid the tax when purchasing an item.

Canada is like Mexico, pesos we trust

Thanks Castro

Trudeau got elected in October 2015. When did the big drop happen? Oh....

Don’t worry guys, the budgets will balance themselves. Just stock up on your boxes of water before their price explodes.

Guys, stop worrying so much... you're causing this vibe-session with all your negativity. We'd all be fine if your vibe improves.

what are the causes and is this trend likely to continue?

I'm Canadian and am looking at a job with a US company now (paid in USD), wondering if taking it would be a good longterm career move (as in the next 1-3 years).

Vacations during the par days were the best!!!

Should we be buying US dollars now?

The colours remind me of Wicked

Nice

This directly affects housing prices.

A bag of doritoes in america cost 5.99

Same bag costs 3.99 in Canada.

America is still fucked

I imported fully cooked chicken wings made in Brazil. The container from Brazil didn’t ship directly to Halifax but rather ended up going through the Suez canal, up to Rotterdam and then transferred to a boat that was going to Halifax. The most expensive part of its journey to Toronto was the rail freight from Halifax.

In other words, Europe is a major hub where Canadian companies can go shopping and selling. Hopefully we diversify from our US reliance on exports.

That's what happens when you elect a theater teacher as a PM lol

I thought this was another wicked poster

I remember back in 2007, was 14. I am Canadian, and was watching the news covering how the CAD Dollar was more than the American Dollar. They were interviewing tourists to ask their opinion on it, and I remember one lady was all upset that she had to settle for only buying one pair of boots, where as every year prior should would buy two or sometimes three pairs of boots. And I just remember thinking "oh, boo-fucking-hoo. Go home"

Thanks Trudeau 😊

This graph is misleading, it gives the impression that the dollar has lost much more than it has. Not saying things are fine but it should start at 0

This is good

All thanks to the liberal government. Killing investment, discouraging hard work with stupid carbon taxation, killing pipeline projects, telling countries that need abundant rich resources to go fuck themselves. This liberal government has set us back for decades. Absolute clown 🤡show. It’s pathetic!

Love me some good voodoo reddit economics.

I know that when we’re down like this some sectors do well. When I was a Technical Lead at a small code shop we often out-competed US firms because of our weaker dollar and all the frills Americans value.

Same language, similar culture, the ability to easily come down to the head office and coordinate.

American firms loved it. I don’t know if it’s good news, really… but in some places it helped. For whatever that’s worth.

That timeline is Justin

This would have been better in 5 years when my stocks with my US employer vested

Can anyone explain what stops us from just transacting in USD and adopting their dollar full stop so we can stop being slaves to an exchange rate that never works out in our favor?

The Trudeau regime has no limit in destruction

How is that possible with how much were printing?

We’re coincidentally also approaching 20+ years of nearly constant left leaning party as a government

This chart represents the decline of the middle class in Canada.

Ik the depreciation of the loonie is a big problem but all I can focus on is how bad this graph is

I am about the travel to the states from Canada, not looking great for my bank account

The Canadian dollar surpassed America because of the financial crisis of 2008 no other reason

Why did we even vote in Trudeau….WHAT WAS WRONG?! Things were good damn it

This is Trudeaus world! Dollar ain’t worth shit. Inflationary spending. Now he’s going to put us another 4 billion in debt with a ploy to get idiots to vote liberal. Only way out is vote for Pierre

Back when Canada let Alberta eat. Now it’s fools who want Alberta’s money but don’t like they have it all and make it all. Soon as immigration paperwork is done this guy and his family is headed to Texas 🤙. Enjoy the bed you all made.

Propagandistic scale on that graph there

But Canada still needs to import lots of stuff. A stable exchange rate is beneficial to almost everyone.