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The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, NHL revenues, relocation and expansion.

OT: Canadian Dollar Takes Off Through Higher Interest Rates

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07-12-2017, 05:29 PM
  #1
sawchuk1971
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OT: Canadian Dollar Takes Off Through Higher Interest Rates

the canadian dollar has been increasing due to bank of canada raising interest rates and also positive news in canadian economy....

donald fehr, in an interview with sportsnet.ca, said the canadian dollar is improving which means higher revenue returns for the NHL....

Quote:
"In terms of how the cap has functioned in connection with expectations over the last several years, there have been a number of problems, including the Canadian dollar and including that the cap is predicated on the clubs spending to the midpoint, more or less. If most of them are spending above the midpoint, that creates escrow all by itself. The Canadian dollar is beginning to climb a little bit, we expect some revenue increases this year, so hopefully we’ll see a major turn for the better over this coming season."
https://www.thestar.com/business/201...rest-rate.html

Quote:
The Canadian dollar is soaring to levels not seen in nearly a year after the Bank of Canada announced it was hiking its key lending rate for the first time since 2010.

The loonie was trading at 78.70 cents U.S. about four hours after the central bank’s announcement Wednesday, up more than 1.3 cents from Tuesday’s average price of 77.40 cents U.S. The last time the loonie had closed above 78 cents U.S. was in August 2016.
Quote:
The dollar has strengthened in recent weeks, buoyed by positive economic data, and growing anticipation of the interest rate hike. It raised the rate by a quarter of a percentage point on Wednesday to 0.75 per cent, still low by historical standards.

Theoret says the loonie still has room to move higher, with the growing possibility that it will eclipse 80 cents U.S. in the near term. The last time the loonie closed above this level was in June 2015 when it was 80.06 cents U.S.

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07-12-2017, 05:39 PM
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BigFatCat999
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Um...still not at par.

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07-12-2017, 05:41 PM
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ottawa
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Quote:
Originally Posted by BigFatCat999 View Post
Um...still not at par.
It never will be.

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07-12-2017, 07:49 PM
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Great! Now bring back the Nordiques...

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07-12-2017, 07:53 PM
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Originally Posted by BigFatCat999 View Post
Um...still not at par.
Doesn't need to be at par.

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07-12-2017, 08:22 PM
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Tom ServoMST3K
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dollar dollar bills.

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07-12-2017, 09:52 PM
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Quote:
Originally Posted by GoHabsGo57 View Post
Great! Now bring back the Nordiques...
If it gets back to around 90% then that becomes a very possible.

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07-12-2017, 10:11 PM
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Devonator
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That still is not very good.....at 78 cents....I thought it was going to be higher considering the OP saying the Dollar has taken off.....

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07-12-2017, 10:24 PM
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McXLNC97
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Quote:
Originally Posted by Devonator View Post
That still is not very good.....at 78 cents....I thought it was going to be higher considering the OP saying the Dollar has taken off.....
It's up 6 cents since early May, not sure exactly how big of a jump you were expecting in such a short period of time.

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07-12-2017, 11:08 PM
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M.C.G. 31
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Quote:
Originally Posted by Devonator View Post
That still is not very good.....at 78 cents....I thought it was going to be higher considering the OP saying the Dollar has taken off.....
I mean... it was 72 cents a few months ago and was really close to the 60s (probably hit 69 cents at one point iirc) since January 2016. It's not like the dollar was going to jump straight up to 85-90 cents in a day off one announcement.

I don't see why the dollar can't at least maintain a rate of around 80 cents by the end of the year and maybe even go up a bit more heading into 2018. We'll see what happens.

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07-12-2017, 11:19 PM
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07-13-2017, 06:19 AM
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There was a great article on CFL.ca about how some american players have really adopted Canada as their home, and one guy talked about how he'll never go back, unless the dollar is good.

The man has embraced everything about being Canadian

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07-13-2017, 11:43 AM
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tony d
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The dollar being up is good for a lot of people. Maybe gets us a team in Quebec City, more revenue in the NHL and more businesses doing well because of closer parity with the US dollar.

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07-13-2017, 01:56 PM
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Quote:
Originally Posted by ottawa View Post
It never will be.
Has been in the past, even after times people said the same.

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07-13-2017, 02:06 PM
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CokenoPepsi
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78 cents isnt very good

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07-13-2017, 03:08 PM
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chicago oiler
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Quote:
Originally Posted by Bluefan75 View Post
Has been in the past, even after times people said the same.
Yep. Those were the days:

"2007: The loonie takes flight again. On May 31, it topped 94 cents (U.S.) - the highest level in 30 years. Later that year it hit parity in September. That fall the loonie hit its modern-day intra-day high of $1.10 (U.S.), and hit its highest closing price of $1.08 (U.S.) on Nov. 6, 2007."

https://www.theglobeandmail.com/repo...rticle1366590/

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07-13-2017, 05:03 PM
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ottawa
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Quote:
Originally Posted by Bluefan75 View Post
Has been in the past, even after times people said the same.
OK fine, it might be again for a month max.

You clearly don't know the history of the canadian dollar. Historically, the loonie is never on par with the USD for anything remotely close to an extended period of time. Trade that back to Canada's birth.

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07-13-2017, 05:23 PM
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Quote:
Originally Posted by ottawa View Post
OK fine, it might be again for a month max.

You clearly don't know the history of the canadian dollar. Historically, the loonie is never on par with the USD for anything remotely close to an extended period of time. Trade that back to Canada's birth.
You are overstating the case. The Dollar was quite strong in the 50's, peaked again in the 70's and recently went over par again in the late aughts.

Historically it is more accurate to say it is usually lower, but for a few years at a time it can be higher than the greenback.

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