Bearish on Canadian dollar unless BoC cuts rate: analyst

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[@hersdera]

Things are strange right now. The dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?

[@EddyAgnes-vy4kp]

Personally, I would say have a mentor. Not sure where you will get an experience one, but if your knowledge of the market is limited, it seems like a good bet.

[@RaymondKeen.]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@ScottKindle-bk3hx]

That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?

[@RaymondKeen.]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@SandraDave.]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@F_e_l]

What a load of BS from this button guy

[@DrivenA111]

Do you think he was correct about AI taking so many jobs and unemployment going to 20%??

[@AlvarezDanuta]

The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the canadian dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.

[@mayalucia-]

Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.

[@SofiaDiego-]

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@Adrianaluca-um6ny]

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

[@SofiaDiego-]

Svetlana Sarkisian Chowdhury is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@RomeroCarmen-4]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@HardKnocks-pi7pc]

I bet this guy is in personal debt

[@vert911]

most are

[@charlesrobb6912]

I think he said there are many job seekers per low wage job. A terrible time to be poor.

[@PhatChin]

This is a lie. CADUSD just busted right thru the Ichimoku on the daily and the trends are all up. Bollinger band is expanding and 20-day MA is curling up.

[@willbobig]

Cringe.

[@selenkywreckless]

I can't tell if you're trolling?

[@GaryABArmstrong]

This comment did not age well.

[@jabsy5094]

Canadian dollar will continue to become weaker if more rate cuts are to come. US is steady on holding rates further so it will be of no benefit to the Canadian Dollar if we continue widening the rate cap between the US and Canada. Inflation also saw a steady tick upwards after cutting our rates by 25 basis points. Are we to continue increasing inflation by cutting rates, similar to what we did in the 80's, and risk a stagflationary crisis once again?

[@jzou1030]

US is showing some strong signs of economy slowdown

[@samaursa]

The only data we have inflation increase is from before the rate cut. So far we don't know the results of the rate cut until they are released sometime this month.

[@evadeanu1]

Invest in US

[@gmarks1559]

I think the unpaid intern got the title wrong 😂😂😂

[@GF-po4lb]

The time to get bearish on the canadian dollar was years ago. Now it all priced in and you think it is time to sell CAD 😆

[@reefermadnesss]

CAD could easily go to 60 or 50c

[@GF-po4lb]

@@reefermadnesss Markets usually do the opposite of what everyone thinks 🚀

[@reefermadnesss]

@GF-po4lb it's not a typical market. This is very manipulated by the central bank. If the central bank lowers and deviates from the US too much it will sink our dollar more. No question about it.

[@GF-po4lb]

@@reefermadnesss this is a very typical market. you just don’t like the way it is being priced

[@gamerstv2444]

US ahould have cut multiple times if they were in bad economic shape as Canada.

[@gregfraser8784]

So you are deciding the only fix? Homes should cost on average 30% of median area income… and not 60 to 80%. Only option is a reset or for young people to leave

[@reefermadnesss]

💯

[@gregfraser8784]

Rate cut how is that going to help? We need housing price reset so citizens can afford rent and housing. More immigration = if more people were the panacea for quality of life then China and India would have the wealhiest populations - BUT THEY AREN'T. This is all blather.

[@kennethyoung2077]

Maybe wages need to rise for a person to afford a house.

[@gregfraser8784]

@@kennethyoung2077 That would cause inflation and devalue the equity in existing homeowners and savers. The currency would go down. Best thing is probably to open up the border and make it one nation or stop the open border and keep the country for citizens.

[@samaursa]

How do you reset housing prices? The only way is to build more. Interest rate increase hurts first time buyers as much as existing buyers. I would argue it hurts first timers more because their buying power decreases not to mention what high interest rates do to the job market in general i.e. layoffs and who are usually the ones to be laid off? The ones who are replaceable. Who can be replaced? The middle and lower class. Unfortunately there's no winning for the middle and lower class with interest rates whether they are low or high. The only fix is to build more houses and prevent corporations from buying homes as investment properties.

[@reefermadnesss]

​@samaursa wrong. A re pricing of assets will flush the over leveraged and give opportunity for new market participants to acquire them at lower prices.

[@chrish5479]

I love how people in suits seem to think A.I. can do a blue collar workers job lol

[@joebachmeier6747]

Theres been no significant dollar move for a longtime, but alot of people talking about it.

[@Roguerebel297]

Overestimating ai I think personally

[@willbobig]

20% unemployment due to AI enhancements in manufacturing & other labour sectors is quite startling.

[@chesspain6704]

Where did they get this guys? CREA?😂

[@prao4603]

Lies. BoC needs to jack up rates and let the housing bubble implode.

[@erict7491]

If rate jacked up it ain't gonna help us tenants to buy a house but instead also jacks up renting.

[@samaursa]

​@@erict7491exactly. People who want high interest rates must be kids because high interest rates hurt businesses and in turn they hire fewer people (and fire a lot more) resulting in a bad market for employees who have little buying power. Back when interest rates were very high the gap between top 1% and the middle class was narrow. Now that the gap is huge, high interest only hurts the middle and lower class. People who don't have minimum wage jobs don't even know that the wages "have" increased and so the inflationary prices are not "that" bad. What is bad though is the housing cost and that cannot be fixed by interest. It can only be fixed by more inventory.

[@adrianasher1457]

Why would they drop rates when inflation is rising? Real estate and cad is doomed. Cant have an economy based in flipping homes to each other. Too much debt, if boc cuts rates deep inflation will get out of control. The problem with these experts is they are too young and have only seen ultra low rates, to them its the norm for rates to be under 2%. Imo those days are long gone, maybe rates are dropped to 3ish but that might take 2 ir 3 years. 3% might be new neutral rate and that is basically double what these " experts" have thought of as normal

[@michaelshih8163]

the title is the opposite of what the guys says.

[@dirtlump]

I guess this guy has no clue about the BoC's mandate..... that being 'inflation' as everything we import gets more expensive as the Loonie TANKS under BoC rate lowering ???????????????

[@JessT-vg7ib]

We need to cut rates fast, devalue our currency, boost exports, and increase immigration.

[@gregfraser8784]

You mean the opposite right?

[@APICSKH]

😂😂😂😂

[@kevincameron192]

Ccp 1# citizen award

[@GaryABArmstrong]

Interest rates need to stay high. Cost of living is way too high for Canadians of limited and modest means.

[@zmumtaz]

We have a joker in Ottawa called Tiff macklem. Perhaps we could get you in office in place of him. Everyone who is a educated and not a failed prof agrees we need aggressive rate cuts. As it is the rate cuts will take 24 months to cycle through. Man this country is really in the shitter.

[@rh3108]

Who is this "we"? Only the over leveraged need aggressive rate cuts.

[@samaursa]

@@rh3108 "Only"? Higher rates hurt people who are middle to lower class since it puts an upward pressure on rent, lowers their chances of able to afford anything that requires loans (home, car) since their buying power is greatly reduced. Yes, the over leveraged are getting hurt, but the middle and lower class are getting hurt the most right now. Employers have all the power at the moment. Businesses are afraid to invest in North America especially Canada. We are seeing the effects of it every day (check out the sheer number of people who were recently laid off in various industries and continue to get laid off because businesses are pulling back - it doesn't make sense to invest in such a high interest rate uncertain environment). People are worried that a lower CDN is bad. Why? Possibly because they hold investments in CDN that will be worth more if CDN is strong? Very low is bad but high is bad too. A lot of our industries rely on exports and/or working for US companies. CDN that's lower (but not too low) helps Canadians.

[@leagueplays2100]

rate cut = rip housing

[@nicktw8688]

Counterpoint. The canadian dollar is remarkably resiliant in the global context. So go energy prices, so goes the dollar. 'Investors' are pushing rate cuts in the US to juice the stock market. Bank of Canada knows the name of the game.

[@zmumtaz]

Goes to show the calibre of people commenting here. You guys deserve everything that comes to you.