Exchange rate
#226
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Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
Re: Exchange rate
easy way to look at it. What do you for a living??? I am a trader in the markets with a good portion of my funds at risk, the number of sleepless nights i have had when a position has been going hard against me. Put it this way if it will be tight financially for you to adopt this approach or if we saw 1.95 region and it meant a change in the lifestyle you hope to have in Canada, then i wouldn't do this. You will be kicking yourself for years with what if scenerios, i do this for a living and will bite the bullet and go to market as soon as the funds are released from the sale of house (the wife will make my life unbearable if i call that trade wrong).
Good luck whatever your decision.
Chris
Good luck whatever your decision.
Chris
#227
Re: Exchange rate
i do this for a living and will bite the bullet and go to market as soon as the funds are released from the sale of house
#228
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Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
Re: Exchange rate
we have seen a house in Barrie that we like, and providing the rate stays above 2.10 we should be mortgage free...something i have been aiming at doing for a number of years. I am 34 this year, very few people are still doing well in my line of work when they hit their 40's. So i have to put it away now, nevermind the rate it is the lifestyle we want, my last couple of years of trading will be a damn site easier if i know i don't have a mortgage to worry about.
If you do park the funds in a high interest account in the UK, where do you stand tax wise when you bring the money into Canada at a later date?? That you need to consider, even if it fine at the moment remember legislation can change later. Look at what Canada did recently with the tax refund for tourists...suspended currently (or it was in April when we came over).
Good luck
Chris
If you do park the funds in a high interest account in the UK, where do you stand tax wise when you bring the money into Canada at a later date?? That you need to consider, even if it fine at the moment remember legislation can change later. Look at what Canada did recently with the tax refund for tourists...suspended currently (or it was in April when we came over).
Good luck
Chris
#229
Re: Exchange rate
MPC Surprises
After the surprise announcement that the MPC had voted 9-0 for a rate rise in early May and signals that another rise is not far away sterling was propelled from around 2.14 to finish the week just above 2.15.
The US Dollar rallied toward the end of the week when new home sales for April showed growth of 16%. This was slightly negated by poor statistics for existing home sales and a feeling that these figures may have been boosted by heavy discounting. On the other hand relatively buoyant economic data suggested that a rate cut is still some way off.
Unlike the situation to the South there is still no immediate prospect of Canadian interest rates moving lower. The prices of energy and raw materials continue to rise. Manufacturing expanded slightly in February, the economy is growing at a healthy pace. There is the odd fly in the economic ointment. Only one in three industrial sectors reported increase production. Retail sales were relatively flat. Nevertheless, those commodity prices are still helping the Canadian Dollar to hold its head higher than the Greenback - assisted, it must be said, by a rash of M&A activity among foreign investors. The Canadian economy is not being dragged down by the slowdown in the States and neither is the Loonie.
The pound has had a sustained fall against the Loonie since the halcyon days of 2.30. Momentum is strong but at 2.1475 the movement looks overdone in the short term. A retracing to 2.18 before plunging to last years levels near 2.00 is expected.
So what to do?
Take advantage of any upward blip, the momentum is strong and a rout is possible.
#230
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Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
Re: Exchange rate
makes sense, agree entirely the trend is down but if you see a decent rally jump on the opportunity.
#231
Re: Exchange rate
If you do park the funds in a high interest account in the UK, where do you stand tax wise when you bring the money into Canada
If I could be bothered I'd probably investigate further but I'm like you, I just want to buy my house out right and start living life in Canada.
$30k is the difference between if I had of changed my money back in in Feb @ 2.35 or this afternoon @ 2.15
Can't really be too upset though as back in Feb the money was virtual, next month it will be reality.
#232
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Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
Re: Exchange rate
that's the way to look at it. Back in Feb the rate might have been better, but you might not have got the price you wanted for your house....in one hand out the other so to speak.
Here's to hoping you got north of 2.15 next month
Chris
Here's to hoping you got north of 2.15 next month
Chris
#235
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Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
Re: Exchange rate
jamaica i think he means!
#237
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Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
Re: Exchange rate
lol
#239
Forum Regular
Joined: Feb 2007
Location: London Uk- Halifax NS
Posts: 101
Re: Exchange rate
Have put everything on hold now until next April due to personal problems.
Typically I didnt have all my asetts together when it was $2.33, now I do its $2.12.
Do I sit tight for 10 months with the cash in a high interest/ premium bonds, or do I buy now and put in my Canadian account.
Down in theory $23,000!!!!! DOH
Anybody got the answer?
Typically I didnt have all my asetts together when it was $2.33, now I do its $2.12.
Do I sit tight for 10 months with the cash in a high interest/ premium bonds, or do I buy now and put in my Canadian account.
Down in theory $23,000!!!!! DOH
Anybody got the answer?
#240
Re: Exchange rate
Have put everything on hold now until next April due to personal problems.
Typically I didnt have all my asetts together when it was $2.33, now I do its $2.12.
Do I sit tight for 10 months with the cash in a high interest/ premium bonds, or do I buy now and put in my Canadian account.
Down in theory $23,000!!!!! DOH
Anybody got the answer?
Typically I didnt have all my asetts together when it was $2.33, now I do its $2.12.
Do I sit tight for 10 months with the cash in a high interest/ premium bonds, or do I buy now and put in my Canadian account.
Down in theory $23,000!!!!! DOH
Anybody got the answer?