Exchange rate
#91
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Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
Re: Exchange rate
no bad news for the US means rate cuts, which in turn means a weaker dollar. They wouldn't put rates up if the ecomony was is trouble, they would cut them in an attempt to stimulate the economy.
#92
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Joined: Feb 2004
Location: British Columbia
Posts: 801
Re: Exchange rate
Cheers for not taking the opportunity to call me an economic ignoramus.
Shall be watching the news this afternoon with interest.
Shall be watching the news this afternoon with interest.
#93
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Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
Re: Exchange rate
no problem
#94
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Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
Re: Exchange rate
data was mixed, they didn't create as many jobs as hoped, but there was reduced average hourly earnings. Basically, market still doesn't know what is next move from the Fed. More clues in rate meeting next week hopefully.
#95
Re: Exchange rate
thanks for that, was jsut trying to look it up for myself, so most timely post!!
#98
Re: Exchange rate
So - do I bite the bullet today at 2.20 (it was 2.18 over the weekend) - or do I wait two more days, till the BofE announcement and pray that it works in my favour ? God, I hate this bit ...
#101
Re: Exchange rate
So, if I'm wrong the OH says my arse is oot ra windae anawe!
Kenny
#103
Analyst for hire
Joined: Jan 2007
Location: Toronto
Posts: 1,698
Re: Exchange rate
I know I'm waiting until the BoE raises the rates before buying any currency.
#104
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Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
Re: Exchange rate
Interest rate announcement from US tomorrow night is going to have more effect than Thursdays announcements from Bank of England (hike expected) and ECB (unchanged expected). Talk of the slight possibility Bank of England go 1/2% on thursday is the reason for the small bid back to 2.20 in the last couple of days.