October 9, 2007
WTF: U.S. Dollars Tanks While Oil-Soaked Canadian Dollar Soars
While the downturn in the U.S. dollar may appeal to tourists traveling to America, companies like Fixion Media don’t appreciate janky fluctuations as we depend on foreign currencies to thrive. The slump has forced our hand to start expanding into more attractive overseas markets such as in the European Union, where a strong Euro and a growing advertising sector is becoming quite attractive. Likewise, the strong currency here in Canada has led Fixion Media to become more accessible to domestic advertisers. This something we didn’t expect several years ago.
The U.S. dollar losing 20 cents vis-a-vis the Canadian dollar in less than two years is alarming. It stinks of volatility and instability in the U.S. economy. It is also a warning sign of things to come as America is a long way off from a new president in 2009.
This global backlash serves as a lesson to corporations around the world. Business is global. Period. Markets may only be as good–or bad–as its elected leaders dictate. This may be problematic but it is a fact of life these days.
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February 21st, 2008 at 5:16 pm
ekibastos
ekibastos