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Mickey Mouse

Friday January 30, 2015

January 29, 2015 by Graeme MacKay

Friday January 30, 2015Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Friday January 30, 2015

Loonie drops below 80 cents US

The Canadian dollar has slipped below 80 cents US for the first time in almost six years.

The loonie closed at 79.87 cents US on Wednesday, down about three-quarters of a cent from Tuesday’s close.

From 2009

The Canadian dollar’s tumble accelerated just after the U.S. Federal Reserve reiterated it will be patient in raising rates from record lows and noted that the U.S. economy continues to improve.

That statement immediately sent the value of the U.S. dollar up against many major of the world’s currencies, including the Canadian dollar.

“The strong divergence of the Fed having a tightening bias, regardless of how much they end up tightening, is likely to keep the [U.S.] dollar supported versus most currencies,” Robert Tipp, a chief investment strategist at Prudential told Bloomberg.

From 2007

At official exchange rates, the dropping value of the loonie means it now costs more than $1.25 to buy a U.S. dollar.

The Canadian dollar hasn’t traded below 80 cents US since April 2009.

June 17, 1998

From 1998

“The Fed is leaning towards rate hike mode, while the [Bank of Canada] is in a rate cut mode.  It is a tale of two worlds,” wrote Rahim Madhavji of Knightsbridge Foreign Exchange in an emailed commentary.

“The trend is the friend for the U.S. dollar. The next few months could get ugly for the loonie.”

Economists have forecast that the Canadian dollar could drop to 75 cents US or even lower, depending on a number of factors, including the length of the current oil price slump.  Lower oil prices are considered a negative for the loonie’s value.

Crude oil prices dropped $1.78 to close at $44.45 US a barrel on Wednesday. That was the lowest close for crude futures since March of 2009. The U.S. Energy Department reported earlier in the day that oil inventories had risen to their highest levels ever recorded. (Source: CBC News)

 

Posted in: Business, Canada Tagged: Canada, currency, dollar, Economy, loonie, Mickey Mouse, spending, Vacation

Saturday, February 15, 2014

February 15, 2014 by Graeme MacKay

Saturday, February 15, 2014Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Saturday, February 15, 2014

Wynne, Horwath downplay election talk following Tory, NDP byelection wins

Premier Kathleen Wynne is in no hurry for a spring election after the Liberals lost big in byelections in Niagara Falls and Thornhill on Thursday.

Wynne says she doesn’t know when there will be a general election, and insists the Liberals will stick with the plan to introduce a budget this spring and keep the minority government alive.

She also says people cannot extrapolate the byelection results to determine what will happen in a general election.

Despite the NDP’s big win in Niagara Falls, leader Andrea Horwath still won’t say if she’ll stop supporting the minority government and trigger a spring election.

Horwath says the byelections results sent a clear message that people are not happy with the Liberals, but adds she is not focused on a possible election.

Meanwhile, Progressive Conservative Leader Tim Hudak blames “union elites” for his party’s loss to the New Democrats in Niagara Falls, which had been Liberal for a decade.

Hudak says the Tories were in a “David and Goliath” battle against hundreds of paid union activists who flooded Niagara Falls in support of the NDP.

He says the Conservatives would have taken the riding if it had been a level playing field. (Source: Hamilton Spectator) http://www.thespec.com/news-story/4369020-wynne-horwath-downplay-election-talk-following-tory-ndp-byelection-wins/

Posted in: Ontario Tagged: Andrea Horwath, Editorial Cartoon, judging, Kathleen Wynne, Mickey Mouse, olympics, Ontario, skating, sochi, Tim Hudak

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