How did this happen???

According to Reuters:

Canadian dollar tops 96 US. cents as stocks rally – By Frank Pingue, Reuters CA

The Canadian dollar rose against the U.S. currency on Tuesday and touched its highest level since late July as equity markets and commodity prices rallied and bets were on a U.S. interest-rate cut.

The Canadian dollar closed at C$1.0418 to the U.S. dollar, or 95.99 U.S. cents, up from C$1.0525 to the U.S. dollar, or 95.01 U.S. cents, at Monday’s session close.

What does this mean? Basically, if you go to Canada, your McDonald’s hamburger is going to cost what it costs you in the United States. In the United States!!!

As recently as three years ago, you’d go up there and you’d get a 30% discount on all your purchases. It was like getting your third beer, free! (Or, whatever your vice was at the time …)

This is crazy!

And, ironically, bad times elsewhere means more good times for good ol’ Canada:

Canada is a major producer and exporter of oil and gold and its currency often moves in line with oil and gold prices.

That’s right, and today oil hit an all-time high of $80 a barrel!

Further:

If the Fed does cut its key fed funds rate on September 18 it would narrow the interest rate spread in favor of the Canadian dollar as the Bank of Canada is widely expected to leave its key rate unchanged when it next sets policy on October 16.

Dear Canada: You’re welcome!

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Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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