Dollar loonatics.
posted on
Jan 09, 2008 07:02AM
As BigPic often reminds at the other site, ECU is a canadian company and mainly priced in Loonies.
The state of the Loonie vs the Green Back is at play and now often to the benefit of US investors. However as often happens the value of one versus another flactuates and some of those investors may be getting nervous when it goes in an unfavourable direction.
I live in southern Ontario and have gone down Florida way in winter many times ( mostly Daytona) and so have some of my relatives. So am aware of the sesonal variation of the Looney vs US dollar. And I had to be very aware just a few years ago when the difference was 30 or more percent against me.
So be aware that those who fly to southern states, or Carribean for that matter, book their flights typically a month ahead. Those like myself who usually drive make that decision often just days before.
What it means is the timing of the flow of those Loonies into the US money exchangers.
They usually hit peaks just before and after Christmas and the infamous mid winter school breaks which occur in late February and early March.
So do not fret if the Looney in the last few days is below the green back. It will probably be at par for most of winter, dive in late February and go positive in April.
Of course adjustments by BofC and the Fed not withstanding.
So relax and enjoy while watching the gold and silver price manipulations.
Just my personal opinion, I have no connections with the financial institutions, so take my rants for just that. Ed G.