Re: Exchange rate
 

2.1246 on HIFX just now (Bankrate at least!)
I'm usually concerned about why the rate has dropped, but why the increase now? (Not that I'm complaining!):p
K

Re: Exchange rate
 

Every 1c increase makes me $1,500 richer, long may it continue :)

Re: Exchange rate
 

Inflation numbers from the US on friday surprised everyone, the were weaker than expected. Couple more like that and we may see the rate sneak back into the mid 2.20's.

These numbers are out 2nd week of every month, obviously if inflation is high US has more pressure to put up interest rates which makes US$ stronger and CAD$ gets dragged with it.

Chris

Re: Exchange rate
 

:D
I can feel that swimming pool for us being a reality again.

andrew

Re: Exchange rate
 

Keep going baby, keep going, go on, you can do it....

My house sale copmletes 2 weeks tomorrow, and i will be transferring the funds straight over...

Now have everything crossed. :wub:

Re: Exchange rate
 

If you have exchanged contracts on your house sale you can do a forward trade at today's rates, it just requires a 10% deposit. The rates you generally see on websites such as HIFX and Moneycorp are usually 1.5c to 2c more than you will get when you call up, but these reduced rates are always better than the bank. Forward rates are usually a little less than this also, so if MoneyCorp are showing 2.125 on the web, you're likely to get 2.107 spot or 2.103 forward.

HTH,

Patrick.

Re: Exchange rate
 

Thanks v. much for that.
Yes, i am set up with HIFX and have already moved some savings over (so that i knew it really did work, and could see how long it would take), but I had not thought of doing a forwared trade, thank you.

Re: Exchange rate
 

My weekly email

Bank of Canada muddies interest rate outlook

Sterling picked up from last week's opening $2.09 level. It was above $2.11 on Wednesday and had dropped back to almost $2.09 by Friday. There followed a rally that took it beyond $2.1150 this Monday morning.

The Dollar got off to a slow start. There were no US economic data to provide direction on Monday or Tuesday. Even when a strong and potentially helpful Retail Sales figure came out on Wednesday investors it failed to inspire investors. The previous week's bond feeding frenzy had taken the US Dollar as far as investor support would bear and the market was more inclined to look for the negative news that would justify a reversal. Investors had to wait until Friday, when the Consumer Price Index showed core inflation - CPI excluding food and fuel prices - rising at the slowest pace for more than a year. CPI is not the main datum that the Federal Reserve uses to measure inflation but softness suited the mood of the market and Friday's sellers seemed to be renewing their efforts this Monday morning.

Bank of Canada Governor David Dodge told a game-of-two-halves story in his speech last week. The labour market is still tight and the longer-term outlook for inflation remains tilted upwards. On his other hand was the strength of the Canadian Dollar, which offsets some of the inflationary pressure: a stronger currency makes imports cheaper. Analysts believe that the strength of the Canadian housing market will tilt the scales in favour of higher interest rates but Mr Dodge made the outlook sufficiently cloudy to take the shine off the Loonie.

The British economy was unable to produce any astonishingly strong figures but none was bad enough to alter expectations of higher Sterling interest rates in the next month or three. Tuesday's Consumer Price Index confirmed the expected slowdown in inflation and Average Earnings on Wednesday were also slower than the previous month. But Retail Sales the following day were robust enough to offset the lower inflation number and Sterling survived to fight another day. Its main problem lay in investors' reluctance to buy into Sterling/Euro when it popped above the two cent band that has held it for more than three months. The market seems to be comfortable with an exchange rate between EUR 1.46 - 1.48 but above that level everyone takes a pace back to think more carefully about the situation.

So what to do?

Last week's gains for Sterling were against the recent trend. Buyers of the Canadian Dollar should cover at least half of their requirement in the forward market.

Re: Exchange rate
 

You can buy an above ground pool kit for about $2500. It shouldnt be that unattainable.


Whether you want the hassle and expense of pool ownership is another thing...My neighbours just gave their pool away for nothing.

Re: Exchange rate
 

Thanks for that. We're looking at something a bit more permanent and in ground; possibly a salt water system. Will pick people's brains on the forum nearer the time.

andrew

Re: Exchange rate
 

...which one of the realtors we saw warned us off as it reduces the potential field of buyers in the future. An above ground pool can easily be demolished and turfed over, an inground one takes some getting rid of!

Of course if you are not moving no problem.

And NotIain is so right - we've just installed a pool and forget the $2500 (with respect), installation, chemicals, fencing and DECKING if you want decent access is where the real money goes!

Re: Exchange rate
 

No change at $2.12

Re: Exchange rate
 

At least it is not going down, our house completes on Friday.


We are praying for a 20 point increase by they :p


I am forever the optimist, sure to be bitterly disappointed :(

Re: Exchange rate
 

Well judging by this http://news.bbc.co.uk/1/hi/business/6221196.stm it looks as if interest rates will be raised again in July. Not sure if this is good or bad for those wanting the exchange rate to go higher.

Re: Exchange rate
 

Danny it is good.

More important than the vote which was a close 5/4 for unchanged this month (expected 7/2), was it was the first time in donkeys years the chairman of MPC was on the losing side of the vote. Market see's him as the bellweather and therefore hike is now fully expected for July.

Chris