Why do oil prices and Canadian dollars move together

Have you  noticed that the Canadian dollar and oil prices move together? In other words, if the price of crude oil goes down, the Canadian dollar also decreases (relative to the U.S. dollar). And if the price of crude oil goes up, the Canadian dollar is worth more. Theres an economic mechanism at play here. Read on to learn why the Canadian dollar and oil prices move in tandem. Supply and Demand Because oil is an internationally traded commodity and Canada is so small relative to the United States and the  European Union, price changes in oil are caused by international factors outside of Canada. The demand for both oil and gas is not  elastic  in the short run, so a rise in oil prices causes the dollar value of the oil sold to rise. (That is, while the quantity sold will decrease, the higher price will cause the total revenue to rise, not fall). As of January 2016, Canada exports around 3.4 million barrels of oil a day to the United States. As of January 2018, the  price of a barrel of oil  is about $60. Canadas daily oil sales, then, are about $204 million. Because of the magnitude of sales involved, any changes in the price of oil have an impact on the currency market. Higher oil prices drive up the Canadian dollar through one of two mechanisms, which have the same result. The difference is based  on whether the oil is priced in Canadian or American dollars—as it generally is—but the final impact is identical. For different reasons, when Canada sells a lot of oil to the U.S., which it does on a daily basis, the loonie (the Canadian dollar) rises. Ironically, the reason in both cases has to do with currency exchanges, and in particular, the value of the Canadian dollar relative to the U.S. dollar. The Oil is Priced in U.S. Dollars This is the most likely of the two scenarios. If this is the case, then when the price of oil rises, Canadian oil companies receive more U.S. dollars. Since they pay their employees (and taxes and many other expenses) in Canadian dollars, they need to exchange U.S. dollars for Canadian ones on foreign exchange markets. So when they have more U.S. dollars, they supply more U.S. dollars and create demand for more Canadian dollars. Thus, as discussed in Forex: The Ultimate Beginner’s Guide to Foreign Exchange Trading, and Making Money with Forex, the increase in the  supply of the U.S. dollar drives the price of the U.S. dollar down. Similarly, the increase in demand for the Canadian dollar drives the price of the Canadian dollar up. The Oil Is Priced in Canadian Dollars This is a less likely scenario but easier to explain. If oil is priced in Canadian dollars, and the Canadian dollar rises in value, then American companies need to buy more Canadian dollars on foreign exchange markets. So the demand for Canadian dollars rises along with the supply of U.S. dollars. This causes the price of Canadian dollars to rise and the supply of U.S. dollars to fall. Source Kaplan, James P. Forex: The Ultimate Beginners Guide to Foreign Exchange Trading, and Making Money with Forex. Paperback, CreateSpace Independent Publishing Platform, April 9, 2016.

Adolescent Relationships 10 Things I Hate About You Essay

Over the course of adolescence, people interact with one another, forming relationships, whether they are healthy or unhealthy. There is a large correlation between the self-esteem of the two people, and the state of their relationship. The lower one’s self-esteem in a relationship is, the unhealthier their relationship is likely to be. Conversely, a healthy or unhealthy relationship can also raise or lower one’s self-esteem. In the 1999 film â€Å"10 Things I Hate About You,† the relationship between Kat Stratford and Patrick Verona is an example of how a healthy relationship can raise one’s self esteem, while the relationship between Bianca Stratford and Chastity Church shows how a low self-esteem can lead to an unhealthy relationship. At†¦show more content†¦Chastity has a low self-esteem, as shown in their conversation during the exposition of the film. When they are discussing Bianca’s Prada backpack and their Sketchers, Bianca is discussing how she likes her sketchers, but loves her Prada backpack. Chastity, stopping, replies that she loves her sketchers, obviously a bit offended by the subliminal insult Bianca sent her. However, this only lasts a moment before Chastity plasters a fake smile on her face and moves on. This scene showed how Chastity’s self-esteem was low enough for her to hide the fact that she was hurt and insulted, but also showed the unhealthy relationship the two friends had because instead of talking about how Chastity felt and sharing their emotions, they ignored it and moved on. The large problem in this relationship occurs when Bianca finds out that Joey took Chastity to prom the moment he found out that he wasn’t going to be able to go with her. When Bianca confronts Chastity, they don’t settle the problem in any healthy manners. Instead, Chastity bluntly informs Bianca that Joey was merely aiming to â€Å"nail her† that night and insults her, likely cutting off whatever sort of unhealthy screwed up relationship they’d had. In the 1999 motion picture â€Å"10 Things I Hate About You,† Several interesting adolescent relationships are portrayed, showing the correlation between self-esteem and healthy relationships. 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Henry, Paine, Freedom Free Essays

Words: 345 Henry, Paine, freedom A comparison of both speeches Two important persons in the American Literature are Thomas Pain and Patrick Henry trying to help the colonist to get their freedom from the Britain. Paine tried to bring the colonists in to reality in his speech. He wanted to remained the colonists how badly the supreme British were treating them. We will write a custom essay sample on Henry, Paine, Freedom or any similar topic only for you Order Now On the other hand Henry tried to persuade the colonists to go to war, using Britain as the enemy, but they tried to persuade the audience, by using different ways. Thomas Pain and Patrick Henry are both authors if the American Literature. Paine wrote â€Å"The American Crisis† and Henry wrote â€Å"The speech in the Virginia convention. † In a way both authors had the same general goal in mind, to persuade the colonists. Henry uses a variation of persuasive techniques. He uses allusion, repetition, and rhetorical questions. In Henry’s speech, he said â€Å"suffer not yourselves to be betrayed with a kiss. † This allusion refers to the story of Judas betraying Jesus with a kiss. On the other hand Paine uses anecdotes, exaggeration, and personal attacks. Paine exaggerates on his speech by comparing the king of Britain to â€Å"a common murderer, a high wayman, or a housebreaker. I would choose Patrick Henry’s speech, because he says what he thinks clearly without holding anything back. When hi ask a question, he wants an answer fast. As he says in his speech â€Å"Give me liberty or give me death. † Because he wanted liberty even if that means to be involve in a war, because they have to do something for their freedom. On the other hand Thomas Pain says a lot of thins exaggeration everything leaving people clueless on what he is trying to say. Lastly we can see by reading those speeches that Henry and Paine wrote their works at different times. Henry using war while Pain is using the history of their ancestors, but both reached their single goal that is freedom. MLA: Henry, Patrick. â€Å"Speech to the second Virginia Convention. † American Literature. Ed. Jeffrey D. Wilhelm, Douglas Fisher, Beverly Ann Chin, Jacqueline Jones Royster. NewYork: McGraw-Hill, 2007. 108-110. Print. Paine, Thomas. â€Å"The crisis, No. 1. † American Literature. Ed. Jeffrey D. Wilhelm, Douglas Fisher, Beverly Ann Chin, Jacqueline Jones Royster. New Yourk: McGraw-Hill, 2007. 124-126. Print. How to cite Henry, Paine, Freedom, Essay examples