J2FCM

I was expecting the rate to have improved this week. With all the poor news/indicators emanating from Europe, I was surprised the Euro didn't tank; Sterling usually benefiting, as the alternate (major) European currency.

I hope the rate improves toward 1.95 shortly, or our Canadian dream will remain exactly that!

J2FCM

geedee

So, your first post.... welcome to the forum!

Even if the Euro tanked, I doubt it would affect the GBP / CAD rate, but I'm no dealer so am not sure.

The pound seems to keep starting to go back to average (about 2 ish) and then some knob head in No. 10 opens his gob and ruins everything!

emmae

The pound seems to keep starting to go back to average (about 2 ish) and then some knob head in No. 10 opens his gob and ruins everything![/QUOTE]



... they are doing it on purpose now to keep the pound down.

McDave

The general trend for the pound is downward to the doller, don't see it bouncing back to 1=$2 anytime soon.

Don't know what other people use to track the exchange rate but I find google finance is the best place. Gives you a chart, related news on the timeline.

muddypuddle

Agree about Google Finance... a veritable 'one stop shop'!

Not sure that anyone can do much more than guess at the medium / longer term rates for Sterling / CAD, but my own gut feel is that a (gentle?) climb towards 1.85 is probable and even 1.90 is possible over the summer.

Obviously it's just another guess really, but I think the UK cycle is ahead of ours and Canada's economy will dip a bit more before flattening out.

Ahhh - who cares... the sun is shining, the mountains look stunning and I'm buying a BBQ this weekend!

jerry brewer

Hi
Hopefully a nice steady climb for the pound,
Todays canadian interest rate cut should help.
cheers
Jerry

muddypuddle

Yup - fingers crossed...

geedee

And then mr. comedy eyebrows delivered the UK budget.... we can't win.

paolosmythe

Darling is irritating as hell

oicur0t

On the 3 months chart there seems to be a relatively strong resistance at about 1.82. If the price can break through there it may go a fair bit higher. Conversely, if drops below 1.77 I reckon it may dip further. Since Canada is a country that relies on it's exports then the Canadian government would not want to see the cad do too well over the next year. Weak cad may do a lot to keep Canada ticking over in the coming year.

Southcote

I think the blue guy in the picture has more idea about whats going on than Darling or Brown

Tangram

Could be worse, I just took a look at my RRSP I transferred from a company scheme in the UK last year.

I'm going to have a lie down in a darkened room.

jerry brewer

Hi
Probably knows more than most politicians...maybe Jim Henson created all of them.

But back to the thread..
at least the line has turned the right way again
(appx 1.795 and climbing )
cheers
Jerry

montpro

OK so if GBP is getting stronger against the EUR & USD why does it seem to be getting weaker against the CAD?

Or is it that the EUR & USD are getting weaker and the CAD is getting stronger in general and the GBP is just reacting accordingly?

Rob_999

In theory - CAD is mainly driven by commodities. As the global economy shows signs of recovery, oil price increase and so does the CAD.

CAD is up against USD - which sucks cause I get paid in USD