I was following the course of the US$, Aus$ and Can$ for the past couple of weeks. They were all about the same value, within a couple of pennies of each other. Then the Aus$ dropped a lot. Well, then I heard about the floods in Australia. I realized that everything in the world composes a closed system and a change in the fortunes of one thing generates waves in everything else which changes their fortunes.
This article was good at describing a bunch of different effects going on in the world; the takeover of a mining company, increasing oil prices and Australian floods and mentioning that they all influenced the rise in Can$. It doesn't make any connections between the three incidents and I'd be interested if it did try to make some links. At first sight, they do seem to be unlinked.
It also says nothing about what a higher loonie means to people and groups within Canada and out. I'm sure people visiting Canada and those exporting products out of Canada would be hurt. On the other hand, people leaving and those who are importing would be happy with a higher dollar. There was no mention of that in the article.
No comments:
Post a Comment