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Re: Exchange rate
Originally Posted by moving2montreal
soon canada, americas and mexicos currency will be replaced with a single currency called the Amero. unfortunately, this is all true, and can be verified with a small amount of googling.
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Re: Exchange rate
Originally Posted by moving2montreal
there are 4 stages to any shock - denial, anger, bargaining and acceptance.
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Re: Exchange rate
Originally Posted by moving2montreal
incidentally, anyone living in canada or america or thinking about doing so may want to do serious research on the North American Union. This is the merging of American, Mexico and Canada into one Union, a lot like Europe. There will be no borders between these three countries. K. |
Re: Exchange rate
Originally Posted by moving2montreal
point taken. feel free to keep your heads buried. ill delete the comment.
No, wait, tell us; will the independent Quebec adopt the Amero? |
Re: Exchange rate
Originally Posted by dbd33
No, wait, tell us; will the independent Quebec adopt the Amero?
K. |
Re: Exchange rate
Originally Posted by dbd33
No, wait, tell us; will the independent Quebec adopt the Amero?
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Re: Exchange rate
Originally Posted by cneldred
I posted on a simular thread on the rate some months ago saying that CAD was gonna weaken against Sterling. I am a trader/broker on financial futures markets and have been for 12 years.
What you have is the CAD is strongly linked to US$, while sterling is loosely tied to Euro. When interest rates go up in a country the currency becomes stronger, as investment flows into that country for a better return. Data coming out of the US implies that interest rates are going no higher there, infact odds of a rate cut are increasing, yesterday numbers were showing a contraction in the US economy for the first time in years. Also, countries such as China are redistributing their fx holding and moving into currencies other than US$. As a result the US$ has been hosed in the last week. The key level is 1.3666 against the Euro, this was the all time high in December 2004, if this level goes you could see some major stops. I currently see no reason why the dollar doesn't slip to 1.40 against Euro. Therefore looks to me like CAD is going to get even weaker, think we may see the bottom in the quiet xmas trading markets. |
Re: Exchange rate
Originally Posted by printer
OK this is a first, i'm replying to my own post. :confused:
I have now had a read on Halo Financials web site and it seems they require 10% in order to secure a forward rate. If i am hoping to get say £200,000 out of my house sale i need to give them £20,000 which i simply don't have so i guess i am stuffed. I want one of those, or rather my wife would :-) |
Re: Exchange rate
Originally Posted by steve666
Getting away from this for a sec, how did you get to 'large member' ? lol.
I want one of those, or rather my wife would :-) Where the hell have you been to, you've got some catching up to do now. |
Re: Exchange rate
Originally Posted by cneldred
I posted on a simular thread on the rate some months ago saying that CAD was gonna weaken against Sterling. I am a trader/broker on financial futures markets and have been for 12 years.
What you have is the CAD is strongly linked to US$, while sterling is loosely tied to Euro. When interest rates go up in a country the currency becomes stronger, as investment flows into that country for a better return. Data coming out of the US implies that interest rates are going no higher there, infact odds of a rate cut are increasing, yesterday numbers were showing a contraction in the US economy for the first time in years. Also, countries such as China are redistributing their fx holding and moving into currencies other than US$. As a result the US$ has been hosed in the last week. The key level is 1.3666 against the Euro, this was the all time high in December 2004, if this level goes you could see some major stops. I currently see no reason why the dollar doesn't slip to 1.40 against Euro. Therefore looks to me like CAD is going to get even weaker, think we may see the bottom in the quiet xmas trading markets. cneldred - I know this is the impossible question, but what level do you See the GBP : $CAD rate peaking at ? |
Re: Exchange rate
So if the can$ is so heavily linked to the US$ why is the Can$ increasing in value, over the last year, against it US brother? Which is why I really won't be surprised if Canada splits in two in the next couple of decades; the economy already has an east-west split and the east may well go down with the US recession/depression while the west is happily selling to the Chinese. Also, countries such as China are redistributing their fx holding and moving into currencies other than US$. We've had interest rates far too low for far too long and something has to give eventually. If Bush had allowed a recession to occur after the dot com crash rather than drop rates to 1%, the whole global economy would look a lot better right now. Of course if the derivatives market collapses as a result, things will get really exciting. |
Re: Exchange rate
Just thought I'd let you guys know.....
I have just been offered a rate of 2.2530 by RBC ...£ to Can $. They again told me that they will better this rate as we are changing a large amount. We are not ready to wire the money as everything has closed for the weekend in the UK! so we will see what happens on Monday. Linda |
Re: Exchange rate
Quote:
Originally Posted by moving2montreal incidentally, anyone living in canada or america or thinking about doing so may want to do serious research on the North American Union. This is the merging of American, Mexico and Canada into one Union, a lot like Europe. There will be no borders between these three countries. Hi All, It doesn't add up, If the USA is looking into this North American Union,why are they tightening the present border controls, this would surely prove they intend that they want the opposite, a defined border all around the USA. Onto the main thread exchange rate,we are trying hard not to exchange at the moment,hoping a few more weeks might bring a better rate. cheers Jerry still lovin it in north van, can't believe the scenic views & the sunsets. |
Re: Exchange rate
Jerry, i think he was taking the p*ss.
The CAD is more heavily linked to the US$ than any other currency and likewise the GBP with the Euro, for purely demographic reasons. Their economies tend to follow one and other. MarkG, you are very correct the US is in a world of poo. The need to cut rates, but they daren't because they are worried about inflation for 2nd round oil price effects. Their anti-inflationary stance is going to take them into a huge recession. The US citizen will not know what hits them, the purchasing about is going to reduce massively. As for the top, how long is a piece of string? Cable(GBP v US$) is going to take 2.00, i wouldn't get this close without taking it out. Euro v US$, the key level is 1.40, European Central Bank have to change their stance if we hit there, they already said it was crucial, so the market is going there to see what ECB is made of. Therefore i think 2.40 (GBP v CAD is next level) . Does it go much further than that?? Well, that is the million dollar question?? DO i get to phone a friend?? |
Re: Exchange rate
Originally Posted by nivlad
So if the can$ is so heavily linked to the US$ why is the Can$ increasing in value, over the last year, against it US brother? It has been down to 85cent and as high as 91cents (Can$ vs US$). I think with the minerals, lumber and oil we have here we are more independent than you give credit (although just by pure geography there must be some dependence upon each other).
the us/cad rate is highly linked to the dollar. Since oct 2001 it has come down from 1.61 to a low of 1.09 ish a month or so ago and is now rising a little. The cable gbp/usd is currently at rate not seen since 1992 when we we ejected from the erm. Yet gbp/cad is only mid way in its range of the last few years. Not at its high of c2.56 (when usd/cad was c.1.61 and the gbp/usd was only c.1.47) As you can see an equivalent usd/cad rate would give a gdp/cad around 3.5. But that would need a massive problem to occur within commodities/economy and worse than the US. |
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