rae

just seen a report on ctv from an economist in toronto, on a news article re the strength of the loonie. it was all mumbo jumbo to me, apart from the bit where he said, the canadian government, despite job losses and an adverse effect on tourism, were reluctant to affect the progress of the loonie by cutting interest rates, if anything expect a rise in the next month, which would make the loonie even stronger against sterling, and would push it for that us dollar parity people keep talking about. not good.

cneldred

What you have to bear in mind is all the central banks are engaged in fighting inflation because of the rising commodity prices. And since a lot of people on here have commented about the rapid rising prices, especially in Alberta where the boom appears to be the strongest (due to the oil boom there). There is still clear evidence of inflation in Canada, something that other than at the petrol pump and in the housing market isn't too obvious in the UK. Therefore it would indicate that Canada still have a long way to go with their rate hikes, therefore a stronger CAD$, and so on a shittier exchange rate.

Chris

The TWs

$2.11378

deangb

$2.107

So much for the interest hike making for a stronger £!
i guess people can analyse all they like but in the end its just guesswork

Danny B

I reckon it will go up again, only a few weeks ago it was $2.08 and then within a few days it was up to $2.14 again.

<touches wood>

steve666

The upward movement of the interest rate was working within the markets a week ago, they (and we) new it was going to happen. So the prices were adjusted accordingly, it's the news of an imminent interest hike that matters, not the actual event.

rae

oh oh, cbc news just reported that big increases in manufacturing and job creation will force bank canada push up intrest rates on tues. if you've got em change em.

destinationnovascotia

I read somewhere that the rates would be better towards the end of the year. Could be worth waiting if you can.

Novocastrian

cneldred, I hope you're listening to this advice.

geedee

What I don't understand is the size and speed of the swings!

From 2.35 in March (ish) down to 2.08 a week or so ago, back up to 2.14 and now back to 2.10 in a matter of days!

Against other currencies the GBP seems to go slower and steadier one way or the other. But against the CAD it's amazing.

One way or the other, I am going to end up kicking myself when I eventually do change.:curse:

steve666

What advice?

is vic there...

look there's nothing to understand....there is no logic..dealers want a certain currency up and then down,they use economic data as a front when they want to....too many people on the forum are worried about a few cents here and there....if you are worried about the the odd $10,000 or so then you have a problem....

steve666

The 'odd' $10,000???
So if you lost $10,000 on the street you would consider yourself having a problem if you worried about it? You must be loaded!

destinationnovascotia

Its not just a few cents. Some people are changing all the equity from their house, savings, all their liquidated assets.

This is not tourist money we are talking about....it is thousands of pounds.

Do the math

geedee

Then I have a problem! 10k is a lot to me in most currencies! That would buy a decent second hand car, or a good family holiday. When I'm paying tax over there, 10k is going to take quite some time to save, that's for sure.