nivlad

What the hell is the Canadian dollar up to, it has stengthened by nearly 20 cent per pound in the last 6 weeks :scared:

We have just exchanged on our house and will be moving over on the 2nd August just hope the dollar is more like $2.30 ( $2.50 would be really nice) to the £ and not $2.18 it was on on Thursday. It is great that the Canadian $ is doing so well but hell stop spending you guys in Canada - well until 2nd August

I am interested if other people are watching the exchange rate minute by minute, or I am the only sado who doesn't care about work because he is leaving in 2 weeks

Pretty Flowers

[QUOTE=nivlad]What the hell is the Canadian dollar up to, it has stengthened by nearly 20 cent per pound in the last 6 weeks :scared:

We have just exchanged on our house and will be moving over on the 2nd August just hope the dollar is more like $2.30 ( $2.50 would be really nice) to the £ and not $2.18 it was on on Thursday. It is great that the Canadian $ is doing so well but hell stop spending you guys in Canada - well until 2nd August

I am interested if other people are watching the exchange rate minute by minute, or I am the only sado who doesn't care about work because he is leaving in 2 weeks[/QUOTE


it's pretty good for me at the moment, as I need to transfer some money back to the UK to pay off a loan. basically it means that I make an additional 300 UKP on what I transferred in January... Not that this is much help to you

nivlad

Thats cools. So do you still have an outstanding loan in the UK?

Souvenir

I'm watching it like a hawk. I'm about to get paid for my latest project, in pounds. I think I'l be asking for them to shove it in Barclays and let it sit there.

nivlass

I hear ya!

Pretty Flowers

I've been dithering about deciding whether or not to cash my endowmnent policy in. I still haven't decided, but the money I have left in savings in Britain will run out in a few months, so I'm going to be transferring some of the money I have over here. International finance is soooo confusing! lol

chinnybloke

Watching it also and fingers crossed it doesn't get worse. We've been watching since it was 2.40 ish at the beginning of this year.

I was in NS about 10 days ago and in the financial section of a free paper I got in the hotel, it had a 12 month forecast for the £ / C$ rate of 2.20.

It was just going down because the fed up'd the interest rate this week (as expected) and UK growth was revised down so further expectation of a rate cut here.

I'm no currency expert but I am really hoping it goes back to 2.30 ish before we have to (hopefully) transfer money. If you're selling up to move to Canada its getting more expensive by the day the way its heading.


Chinnybloke

Voyager970

YES another daftie / geek

Heading to Canada in 2 weeks for family holiday / reccie

Watching it most days to try and get the best rate, before I change loadsa money in $$$$$$$$.

Rate not the best just now against UK pound, about 2.13, a few weeks ago it was 2.25, so it has dropped a bit.

Eddie

nivlass

Although the high street banks are giving 2.13 you can get 2.18 with xe.com, I have created an account with them but haven't actually sent any money through them as yet, that scares me a little. When we were in Canada last year we got a rate of $2.50.

burmonk1

Yep its a bummer for anyone thinking of changing GBP into CAD at the moment.
Basically the cCanadianeconomy is strong and doing well. The boring bits read as follows - GDP av growth is running at an aannualisedgrowth rate 2.7%. and the EIU predict 2.7% for 2006.Inflation fell to 1.6% in May from 2.4% in April. record retail sales, a recovery in oil prices (will they ever go down!) and a small rebound in manufacturing all combine to produce a stronger CAD. A general election is forecast for later this year or earlynext year plus (and most importantly) there is a long talked of rise in interest rates (probably 0.25%) expected in the autumn.

This stands against Sterling where there has been a load of recent disappointing economic news combined with a strong possibility of a reduction in interest rates quite soon. (see what happens next week)

All this means is that the lowish exchange rate may continue for some time (I've heard quotes of 2.05! : 1) :scared:

But in truth no one knows nor can they predict with any degree of accuracy what will happen. FYI the charts suggested a rebound back to 2.30 - 2.35 two weeks ago & look what happened.

I'm off next Friday to Victoria so am in the same boat as most others. On a simple basis, if you are a UK resident then ING direct offer 5% pre tax. As one of many offshore accounts, HSBC Int' Sterling offer a reasonable 90 day rate - but its mighty ddifficultto contact them as their switchboard is constantly busy.

Good luck to all

Daveyboy_The_Red

I check it about 10 times a day!!

Is there a seasonal pattern?

interest rates going up in canada, would that not weaken the $?

nivlad

I have set my homepage on my work pc to xe.com and I watch it by the minute!!! My friends tell me not to check it but....I just can't. Seasonally the rate does seem to get better for us buying $ in the xmas and high summer periods but i remember going to Canada at xmas time (early 90s) and geting $2.02. Hell I am boring myself

macadian

Try and be patient. Give Martins Government time to totter to its next crisis...and threaten an election (again)...and hopefully, (until another independant sells out that is) we will be back up to around $2.37 to the £1.00 or thereabouts long enough to bring some sterling in....

Souvenir

He's promised to call an election within a month of the Gomery report being published, ie we're officially looking at December. I have it on good authority that he won't wait that long . September will be the month.

nivlad

MMmmmm, interesting, I hope you are right Souvenir and Macadian