Exchange rate

Old May 21st 2007, 5:40 pm
  #211  
Tea Drinker
Thread Starter
 
Danny B's Avatar
 
Joined: Nov 2006
Location: Kamloops, BC
Posts: 4,611
Danny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond repute
Default Re: Exchange rate

I have just received my weekly email from a currency specialist.

Canada romps, Sterling collapses

Sterling collapsed against the Loonie, but so did every other currency. The pound fell steadily from 2.17 to 2.14 over the week and looked to be heading lower as the new week beckoned.

The US Dollar had a relatively good week as fears of a hard landing for the economy waned. The first quarter reporting season is almost over and expectations that profit would be in single figures has been thwarted. Record highs in the Dow Jones seem relentless. The current week should bring strong durable goods orders and more stable housing data.

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 rise in base rate has failed to elevate the pound. Signs are that the housing market is about to chill. Whether this is because prices have finally reached a peak or because nobody has a clear idea what the introduction of HIPS on the 1st June will do, is open to interpretation. At the end of the week we received news that retail sales in April had been very disappointing. When added to the news from Next that the first two weeks of May had been ‘dire’ it was inevitable that Sterling would fall a little.

The pound has had a sustained fall against the Loonie since the halcyon days of 2.30. Momentum is strong but at 2.1375 the movement looks overdone in the short term. Looks sure to retrace to 2.18 before plunging to last years levels near 2.00.

So what to do?

Take advantage of any upward blip, the momentum is strong and a rout is possible.
Danny B is offline  
Old May 21st 2007, 5:42 pm
  #212  
BE Enthusiast
 
Joined: Jan 2007
Posts: 386
lilacheart has a brilliant futurelilacheart has a brilliant futurelilacheart has a brilliant futurelilacheart has a brilliant futurelilacheart has a brilliant futurelilacheart has a brilliant future
Default Re: Exchange rate

Just worked out the difference between 2.32 and 2.13 .

With the funds we will have it amounts to $15,000.

I really wish I hadn't worked it out.

I am now going to find a quiet corner to sulk
lilacheart is offline  
Old May 21st 2007, 6:01 pm
  #213  
Tea Drinker
Thread Starter
 
Danny B's Avatar
 
Joined: Nov 2006
Location: Kamloops, BC
Posts: 4,611
Danny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond repute
Default Re: Exchange rate

I have lost (well since $2.35) the amount equal to a *brand new* Subaru Impreza WRX

Do I look bovered? err well yes actually
Danny B is offline  
Old May 21st 2007, 7:28 pm
  #214  
BE Enthusiast
 
Joined: Aug 2006
Location: The Vancouver Suburbs... for the next few years anyway!
Posts: 558
The TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud of
Default Re: Exchange rate

Oh god... this is going to finish me off!!! $2.00 to the £??? What on earth!!!

Can anything save us from exchange poverty?
The TWs is offline  
Old May 29th 2007, 12:56 pm
  #215  
rae
Settled.
 
rae's Avatar
 
Joined: Jul 2006
Location: St. Albert. AB.
Posts: 3,286
rae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond repute
Default Re: Exchange rate

Originally Posted by Danny B View Post
I have just received my weekly email from a currency specialist.

[/I]
care to share this weeks e-mail, with better news than the last hopefully, thanks rae.
rae is offline  
Old May 29th 2007, 1:24 pm
  #216  
BE Enthusiast
 
Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
cneldred will become famous soon enough
Default Re: Exchange rate

Bank of Canada rate decision at 2pm London time today... no change expected however if they were to surprise it would be a hike rather than a cut. Obviously, all of us waiting to change sterling into Canadian Dollars are praying for a rate cut.
cneldred is offline  
Old May 29th 2007, 1:31 pm
  #217  
 
Joined: Apr 2005
Posts: 9,606
Souvenir is an unknown quantity at this point
Default Re: Exchange rate

Originally Posted by cneldred View Post
Bank of Canada rate decision at 2pm London time today... no change expected however if they were to surprise it would be a hike rather than a cut. Obviously, all of us waiting to change sterling into Canadian Dollars are praying for a rate cut.
Particularly those of us who get paid this Thursday..........
Souvenir is offline  
Old May 29th 2007, 1:36 pm
  #218  
Tea Drinker
Thread Starter
 
Danny B's Avatar
 
Joined: Nov 2006
Location: Kamloops, BC
Posts: 4,611
Danny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond repute
Default Re: Exchange rate

Originally Posted by rae View Post
care to share this weeks e-mail, with better news than the last hopefully, thanks rae.
As soon as it arrives in my inbox I'll post it.
$2.14 at the moment.
Danny B is offline  
Old May 29th 2007, 1:41 pm
  #219  
rae
Settled.
 
rae's Avatar
 
Joined: Jul 2006
Location: St. Albert. AB.
Posts: 3,286
rae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond reputerae has a reputation beyond repute
Default Re: Exchange rate

Originally Posted by Danny B View Post
As soon as it arrives in my inbox I'll post it.
$2.14 at the moment.
cheers.
rae is offline  
Old May 29th 2007, 2:00 pm
  #220  
BE Enthusiast
 
Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
cneldred will become famous soon enough
Default Re: Exchange rate

bank of canada unchanged, tilting towards rate hikes possibly as early as july.
cneldred is offline  
Old May 29th 2007, 3:11 pm
  #221  
Tea Drinker
Thread Starter
 
Danny B's Avatar
 
Joined: Nov 2006
Location: Kamloops, BC
Posts: 4,611
Danny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond repute
Default Re: Exchange rate

Originally Posted by cneldred View Post
bank of canada unchanged, tilting towards rate hikes possibly as early as july.
What does that mean for us changing sterling to Canadian dollars? Is it likely to settle at around $2.15 for the next few months?
Danny B is offline  
Old May 29th 2007, 3:15 pm
  #222  
BE Enthusiast
 
Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
cneldred will become famous soon enough
Default Re: Exchange rate

i think we see it lower, unfortunately since i have another 2 months until we are in a position to change up....just hope the Bank of England have to be mroe aggressive now the HIP changes have been announced.

CAD$ has moved from 2.14 before Bank of Canada to present rate of 2.12.
cneldred is offline  
Old May 29th 2007, 3:38 pm
  #223  
BE Enthusiast
 
KennyJosie's Avatar
 
Joined: Apr 2005
Location: Prince George
Posts: 314
KennyJosie is a name known to allKennyJosie is a name known to allKennyJosie is a name known to allKennyJosie is a name known to allKennyJosie is a name known to allKennyJosie is a name known to allKennyJosie is a name known to allKennyJosie is a name known to allKennyJosie is a name known to allKennyJosie is a name known to allKennyJosie is a name known to all
Default Re: Exchange rate

Originally Posted by cneldred View Post
i think we see it lower, unfortunately since i have another 2 months until we are in a position to change up....just hope the Bank of England have to be mroe aggressive now the HIP changes have been announced.

CAD$ has moved from 2.14 before Bank of Canada to present rate of 2.12.
Next BoE Meeting is on 7th June, What is the market thinking will happen, I wonder?
KennyJosie is offline  
Old May 29th 2007, 3:40 pm
  #224  
BE Enthusiast
 
Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
cneldred will become famous soon enough
Default Re: Exchange rate

we have another hike priced in june or july. talk of 50bp last time scared the hell out of the market. I personally expect them to hold off for another month and go in July.
cneldred is offline  
Old May 29th 2007, 3:40 pm
  #225  
BE Enthusiast
 
Joined: Aug 2006
Location: The Vancouver Suburbs... for the next few years anyway!
Posts: 558
The TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud ofThe TWs has much to be proud of
Default Re: Exchange rate

I can't believe how bad it is right now... we're actually thinking of not transferring all our pounds, getting a bigger mortgage and then paying it off when we get a better rate!!! Is this insane?
The TWs is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.