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Would you know when in July?

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Usually first Thursday....

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Yeah, the odds of a UK rate rise next month are pretty high. That means the pound will improve for now, though the Canadian dollar may go up higher; I'd better clear out my savings accounts quick so I can transfer my remaining money over.

On the other hand, someone who works in the City was talking recently about the Canadian government wanting to push down the value of the Canadian dollar because it's too high relative to the US dollar and they can't raise interest rates without making things worse. So maybe it will actually be better later in the year.

I think I'll just transfer it all over and never look at exchange rates again :).

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Hhmm, i compelte on my house sale here in uk on Wed 3rd... Guess i will wait a day or 2 before i book a trade then?

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I think you have to bite the bullet at some point and just put it down to one of the costs of emigrating. Back in Dec 2006 the rate was £1=C$2 so $2.12 is substantially more, although 3 months ago you would have got C$2.30.

There is a lot of luck involved, availability of cash is crucial to securing the best rate, most people don't have that as it is tied up in there assets. I recently booked mine and we'll just have to not have all the things we looked at in Jan 2007 when the rate was excellent....

Patrick.

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Sure Bank of England only meet once a month decision is scheduled for the 5th July.

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thanks

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Down to $2.11 again today..

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Ditto. :blink:

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just hit 2.133 on XE! the prayers are working!

Dean

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Keep going keep going! :thumbsup::thumbsup::thumbsup:

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Do you have to exchange it straight away? I sold in January and have had it sat in the bank since then.... oh how I wished I changed in February at 2.35!!!

We've now decided to rent for 6 months and see what happens.... we think house prices in Canada will go the same way as USA, Spain, Ireland, France and (about to) UK. Don't want to buy at the top.

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My weekly email just came through, it is looking better :)

Weaker data hamper Loonie

At the beginning of last week the Pound was moving up through $2.1150. It got as far as $2.13 and then fell back to its starting point. On Wednesday it made a fresh start, eventually reaching above $2.14. It was still up there this Monday morning.

The economic data coming out of the United States were few and far between. It was therefore unfortunate that so many of them were softer than the US Dollar needed to support it. Investors are by now fully plugged into the idea of a stagnant residential property sector but that does not make them any happier about weak housing data. From Monday to Wednesday the only figures on offer related to housing. The NAHB Housing Index was down again, Housing Starts were down and there were fewer mortgage applications. The only truly good figure came from the Philadelphia Fed's monthly survey of the manufacturing sector: The index scored an impressive recovery from 4.2 to 18.0 but as a lone beacon in a sea of mediocrity it was not enough to encourage buyers of the US Dollar.

After the previous week's efforts by the Bank of Canada to dampen interest rate expectations and to talk down the Loonie itself the last seven days have delivered a few economic figures that appear to underline that caution. Consumer inflation at 2.2 per cent made no obvious case for higher rates and Thursday's Retail Sales numbers were a disappointment; stripped of automobiles, sales in April were flat. With the Canadian Dollar already looking unsteady after the Governor Dodge's verbal intervention a slack handful of less than impressive figures was all that was needed to send the Loonie lower.

A fairly steady supply of UK economic data brought few revelations. Thursday's CBI Industrial Trends survey was usefully positive but fell short of astonishing investors. The one piece of news that did make a difference was contained in the minutes of the June Monetary Policy Committee meeting. Instead of the widely expected 7-2 vote to keep the Bank Rate unchanged, the margin was as narrow as it could possibly be. The 5-4 split included the Governor's own vote for higher rates. The voting pattern and the tone of the minutes increased the likelihood of a rate increase in July and Sterling felt the benefit.

So what to do?

Last week's Canadian data were softer than we have come to expect. For a mixture of reasons the Loonie has lost six cents in a fortnight. This might represent a reversal of its fortunes or simply a correction. Until the trend becomes clearer buyers of the Loonie should hedge at least half of their requirement in the forward market

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Good news at least for the short term future me thinks, still trying to get my hands on some liquid funds before the house sells, if it sells that is.

Nice hair do this evening Danny, or is it a wig?

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I had about £150 of liquid funds for my leaving drinks last Friday night..I take it your house is still on the market then?

Ours should be exchanging contracts today :eek: and completing on Thursday, then I will jobless as well as homeless!