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Sheriff Roland:
The Canadian Dollar, as represented by the 1$ coin's logo (the loon) is usually referred to as the loonie


The value of the Canadian dollar, or loonie, has again been on the rise in recent months (+ 10% this year) when compared with the US$ (heck, it's done well compared to most foreign currencies). Though in the past week or so there has been a decline, the loonie is still expected, by most economists, to achieve parity with the greenback (US$) by year's end, or soon thereafter.

So this thread is intended to focus on the news, or effects of this economical development.

Sorry to disappoint those who were expecting bugs bunny.  :laugh:

Sheriff Roland:
In recent months, Canadians (well at least the Southern Ontario Press) has been focused on the possibility of adding a Canadian hockey team in Hamilton at the expense of the economically failling Coyotes of Phoenix AR.

It is said that in some American markets ticket prices for a hockey game are almost comparable to cinema prices. (Ok, I exagerate - but just barely). Here in Toronto, even though we've gone without a Stanley Cup win in more than 4 decades (the last win was in 1967), and in spite of the recent financial upheaval worldwide, the Maple Leafs organisation had again this year raised it's ticket prices. Even the nose-bleed seats are selling for over 200$ a ticket - and they were still selling out. (Well not so much anymore that the Leafs are now in last place in the whole NHL with a 1-8-1 record - but I digress ...)

It is generally accepted that the Winnipeg and the Québec franchises both moved to the American market because of the low value of the Canadian dollar. (At the time of the moves, one CN$ was only worth about 0.75US$.) Since hockey is such a hugely popular sport in Canada (we even fill up large arenas for international junior hockey & women's hockey games), the increased possibility of a long term parity between the two currencies have increased the chatter of having more hockey franchises in Canada.

The loonie's power play within the NHL

http://www.thestar.com/sports/hockey/nhl/article/717729--the-loonie-s-power-play-within-the-nhl

"A host of southern U.S. cities might now be more likely to lose their NHL teams..."

Every three-cent jump in the value of the Canadian dollar triggers a 1 per cent revenue increase for the NHL...

"If one can argue that venue A in Canada was superior to venue B in the sunbelt, that differential is bigger than it was before," Zimbalist said. "It also makes the clientele of Canadian clubs richer than they would otherwise be, which makes them more able to buy seats and beer and products advertised in the arenas."

The dollar's rise adds weight to the argument for more Canadian clubs, says NHL player agent Ritch Winter...

Sheriff Roland:
Russia to Buy Canadian Dollars, Mulls More Currencies

http://www.bloomberg.com/apps/news?pid=20601087&sid=at5XsdLU.68w&pos=5

Russia’s central bank will add Canadian dollars to its reserves and may include more currencies as it seeks to reduce its dependence on the U.S dollar.
...

Russia’s decision reflects a desire to shield reserves against the dollar’s decline after the U.S. currency lost 13.3 percent against the euro in the past 12 months, making it the worst performer against Europe’s single currency of the 16 major currencies tracked by Bloomberg in the period.

and this:

http://www.theglobeandmail.com/report-on-business/russia-sparks-canadian-dollar-rally/article1376753/

The Canadian currency has risen 16.7 per cent this year against the greenback, one of the world's top-performing currencies.

Kelda:
Yes, I was defo no expecting news about Canadian monetry values!

Sheriff Roland:
Loonie closer to U.S. parity

http://www.cbc.ca/canada/toronto/story/2010/03/17/dollar-moves-higher.html

The Canadian dollar marched closer to parity with its U.S. counterpart Wednesday, supported by higher commodity prices and the prospect of continued low American interest rates.

The loonie traded at 99.26 cents US shortly after 1 p.m. ET, up 0.64 of a cent on the day...

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