Canadian Dollar Surges Most In 2 Years As "Tax Inversion" Euphoria Hits FX

Tyler Durden's picture

It appears the Tim Horton's / Burger-King deal has sparked a serious surge in Canadian Dollar demand.


CAD is up almost 1% today - its best daily gain since June 2012 - pushing to its highest in a month. We suspect the momentum of the initial "tax inversion" flow merely triggered stops and broke key technical levels (200-day moving average) to extend the move as it seems the 'Canada as an offshore tax-haven meme' is a bit of reach...


200-day moving average is 1.0885...


Charts: Bloomberg

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Rakshas's picture

good god what next???


though expansion of TH sales would represent a significant boost to Cad GDP....... second biggest industry  

y3maxx's picture

Western Canada has a Plethora of Natural Resources (Water, Lumber, Minerals, Oil, Grains)and only 12.5 million Citizens...Lots & lots of Land...and We speak English,eh.

0z's picture

I explored for oil for years in all of Western Canada; There's nothing left- We are redrilling or heli-drilling in the fucking rocky mountains. Canada's like California; It's already been plundered. What comes after is the locals just won't let you come any closer, and they'll start shooting.

asteroids's picture

Good gawd, calm down everyone. The Loonie usually gets jacked up just before holiday long weekends. It just happened a day early and was a bit more than usual. Wait a week, and it'll be down again. When interest rates start to rise, expect the Loonie to implode.

blu's picture

Those turrrists! Grrrr I'm so mad now! Roid up! Time to ... invade Canada!

Deathrips's picture

Quick...Everyone in the sink before we turn the garbage disposal on.


A fool and his money are quickly parted. Canada is fucked....but who



DullKnife's picture

Wonderful USSA economic policy:

- outsource all the jobs so citizens can not find a job.

- punish businesses for being here and not re-locating to a foreign (less oppressive) country.

Soon, no jobs and no businesses.

Just the FSArmy sitting around.


astoriajoe's picture

fyi: Tourists =! Terrorists.

ajax's picture



"dollars to donuts"

Toronto Kid's picture

Quick everyone, set out a couple'a 24s on the curbside or we're doomed!

Dr. Engali's picture

Damn, has the whole world gone Loonie?

Sages wife's picture

I thought they should have named the Cdn 2$ coin the dubloon.  Just sayin'.

Bindar Dundat's picture

With all the the queer Cabinet Ministers  in the Canadian Federal Government  the new $2 coin is going to have  two male  deers having sex --  It also will get a new nickname -- two fucking bucks. 

Spitzer's picture

Jack Lew: hey Canada, raise your corporate fucking taxes.

Canada: ok ok sorry

Jack Lew: and keep the cad at around 90. We want our 10% discount on everything.

josephpetronyc's picture

O Canada!
Our home and native land!
True patriot love in all thy sons command.

foodstampbarry's picture

Didn't think I'd ever see the day that Canada was the economic model we'd be looking up to. Well done progs, your destruction of the USA continues full steam ahead.

MeelionDollerBogus's picture

Why wouldn't it be? Canada's economic model has been one of the best for a very long time. The US hasn't been an optimal economic model since before 1913.

Absalon's picture

The attractions of Canada:

1)  lower crime;

2) lower tax rate;

3) government funded health care

4) English speaking

5)  close to the United States

6)  territorial tax system

7)  stable banks

There are reasons for moving head office functions to Canada.

foodstampbarry's picture

How about those personal income taxes? Aren't you considered rich at 50 thousand and in the highest tax bracket of 26%?

 5.50 gallon gas?

4 hundred thousand average house price?

I have friends up there who can't afford to eat it's so expensive.


Grass is not always greener on the other side of the fence.

Toronto Kid's picture

Don't forget the snow. We get far too much snow up here.

Snow-hatred is the only thing that unites our various provinces, eh.

BurningFuld's picture

Also don't forget 3 of the top 5 "Best Cities In The World" to live in are in Canada. 


Deathrips's picture

26% percent tax rate......? Cough Cough...bullshit.


Beer 100% more in canada if not more.

Cigarettes 100% more in canada if not more

Gas 25% more in canada if not more

Cost of living


Household debt way up.....



Paging John Williams...lets see who pays less can bet your ass its not socialist Canada.



Bindar Dundat's picture

And we ultimately have the same big problems the Yanks have!    


Uneducated crazies,  criminals and unemployable citizens on the southern border wanting in to our Country.   

MeelionDollerBogus's picture

For tha muthafuckin win!

Tell yoo whut.

MeelionDollerBogus's picture

Being a corporation disregards all of that. The citizens here who will get jobs are already paying all that, we're all accustomed to the benefits of what our taxes pay for.

In Canada we mostly get back more than we pay in taxes from the services. If you're a driver, however, you'll be hit with absurd fees & fines, high gas prices & have to work very hard to make up for it. I just don't drive. No car, no loans, no insurance, no gas cost, full healthcare: works very well for me.

In fact, if I was to trade off to live & work in the USA I’d only save $1000 tops on fuel cost if I had a car, and I’d need a car, and I’d also pay at least that per month for healthcare which is insane to me.

MeelionDollerBogus's picture

That's for the plebs but if you don't drive you don't care about that. If you're the average corporate slave your tax rate is low as your income is low, with all the attendant benefits of having full healthcare that is not limited by your income.

It would cost me 3x the cost of living & require 4x my income to live in America.

codecode's picture

paid their goods and services tax lately?

In.Sip.ient's picture

Makes me wonder about "Mr. Market".

This tax inversion thingy has been around for quite a while.

He just saw it today????





U4 eee aaa's picture

Is that Ontario I hear going apoplectic? All those Canadian exporters just took a solid one to the privates. They can't compete with a dollar at par(or so they say)

sleepingbeauty's picture

Remind me again, which billionaire was the guy who said doing tax inversions wasn't patriotic? I guess Canada is the last state of the union. My bad.

U4 eee aaa's picture


America's Hat

America's attic

ZeroPower's picture

Nicknames are fun, Canada's pants.

foodstampbarry's picture

Ah, but yes, Canadians are so easy to bug. I get a real kick out of being the stereo typical obnoxious yank around them and watching their discomfort and disdain.... Ah, good times. :)

Hey, some of my best friends are Canadians, so go easy on the down votes.


Sages wife's picture

Might be able to get a room in Banff now.  The murricans will be back to the Super 8 in Phoenix.

TeethVillage88s's picture

This guy has filed a law suit and researched all the Mortgage Fraud, MERS Fraud, Destruction of Deed of Trusts, REMIC Fraud as IRS Tax Free organizations, and on and on. I wonder if he has a chance and is "smart enough" to be right?

Jurat Affidavit Of Gregory C. Morse In Support Of IRS Form 211 & SEC Form TCR Filings

4. The Securities Fraud, Tax Fraud and Tax Evasion perpetrated by the majority, if not all, of the banking, financial, ratings and legal entities, agencies and firms involved in the illegal securitization and trading of fraudulent RMBS (and illegally taking advantage of the REMIC tax exempt feature of Federal Law and the IRS Code), and simultaneously committing financially motivated RICO fraud activities, has resulted in the outright and direct theft of hundreds of billions, if not trillions, of tax dollars from the United States Treasury and has resulted in the well -documented amassing of $700-800 trillion dollars of worthless long term RMBS debt resulting from the multiple trading of these illegal and worthless securities.

Website Tab DTCC 1200 pages attached. - DTCC as strongest member of FED, owns the FED, owns the US Treasury, owns the Cede & Company, and owns congress... is a Self Regulating Organization.

MeelionDollerBogus's picture

Be right? Don't you mean immune to blackmail & extortion? To bribery? No one cares who's right.
Maybe someone needs an express nailgun delivery.

TeethVillage88s's picture

Greg Morse says V the Guerrilla agrees that DTCC, US Holding Company, not only holds all the real stock certificates in USA and much of the world too... but is behind setting up the BRICS Central Bank.(146 Minutes into Video, Euroclear, Clearstream, Cede & Company, Luxembourg, Russia)

Cede & Company, Holding Company, Depository Trust, not local bank 45 minutes in.
Sole Registered owner of all stocks on wall street
Most powerful member of Federal Reserve owns all US Stocks as the Holding Company.
DTCC, 51 minutes in.
Wall Street makes self developed rules
SSRO, Self Regulating organization, 52:30 minutes.
Golden Rule applies -

BRICS & US Dollar Derivative & BRICS Bank 214 Minutes in

MeelionDollerBogus's picture

Looksey to me likes it's gunna be one deluxe model nail gun. Full auto & self-aiming!


Our dollar is $0.91, motherfucker. I attribute our dollar decline to

the fucking Yanks and Goldman Sachs. Lloyd Blankfein will be waterboarded and resistence is futile.

barre-de-rire's picture


canada are mentals hybrid between french & english, the mix of both worst parts.

canada.... lol

robertocarlos's picture

We're rich, bitch.