Re: Exchange rate
 

I'm quite glad I didn't buy a shedload of US dollars a couple of months back when I was pondering it as a end-up-with-more-loonies-in-the-long-run strategy.

Re: Exchange rate
 

OMG it's down to $2.00 exactly now http://finance.yahoo.com/currency/co...submit=Convert

Re: Exchange rate
 

Great news for us people who have just landed.:mad:

Re: Exchange rate
 

I guess I can take some comfort from knowing I am not the only one whose timetable for landing in Canada conflicts with the strong CAD.

I mean there is not a lot any of us can really do when:

The US dig themselves a financial hole,

The UK deals with flooding (insurance claims), Northern Rock issue, Foot & Mouth and now Bluetongue,

While Canada deals with a spate of Canadian company takeovers, strong demand for commodities like metals and grain while producing more oil than they know what to do with at a time when world oil prices are high (especially prior to winter).

So although things at the moment are not favorable for those moving to Canada, the high CAD will also hurt Canada, especially in the manufacturing sector who sell their goods to the US if it continues to remain high.

CC

Re: Exchange rate
 

all true,but canadians keep spending it up here as goods are cheap and there are constant sales.......it will take a while to cool down as employment and wages are good........new zealand had similar conditions and even now with base rates above 8% the economy has hardly slowed....interesting times ahead

Re: Exchange rate
 

In general it is good all round for Canadians.

Some Canadian companies will probably take advantage of the current exchange rate to purchase new equipment to upgrade their companies as most of the equipment will no doubt be purchased in the US. This will be good for their future as it will make their employees more productive too.

Re: Exchange rate
 

just not good for us poor sods who have got to transfer money at the end of the month

steve:frown::(

Re: Exchange rate
 

I completely sympathise with you. I really really do.

I guess I can count myself lucky because as of yet I don't have to convert, just would like to convert.

The sooner I do convert some currency, the sooner I can begin my move to Canada. However, if I hold out for a slightly better rate, I'll be holding out in the UK. Not sure which is the lesser of the two evils; unfavourable rate or more time in the UK?

CC

Re: Exchange rate
 

Know what you mean CC, just we have bought a house and are completing on the 15th Nov. I am really looking forward to getting there but really depressed about the exchange rate. I know others in the thread have already got hit. I was really sure the rate would bounce back up quick but it looks like now it may be like this in the longer term :(

anyway good luck to you cc the rate i am sure will bounce back up on the 2nd Nov (day after i transfer my money )

steve

Re: Exchange rate
 

Hi Steve,

Did you book a rate? we are completing on the 21st Nov - haven't done anything yet and just got rates this am to pre book - 1.9873 ! we had always worked on 2 to 1 - worse case scenario:(

I've held off booking but scared to death it could go lower - anyone else in the same situation?

Tina:)

Re: Exchange rate
 

no haven't yet didn't want to prebook just in case they go up:(
steve

Re: Exchange rate
 

fingers crossed for you too then x don't know how long nerves will hold off!!!;)

good luck

Tina :)

Re: Exchange rate
 

Those wishing to hedge their currency may buy ETF's in various currencies trading under the series FXC, FXA etc , a bet on the further decline of the Greenback.

Re: Exchange rate
 

It really is an awkward time to decide what will happen with the strength of the CAD.

Because the CAD is a kind of commodity currency it will always benefit from the sales of things like oil. With current oil prices around $80 a barrel the CAD will do well.

However, investors don't know which way the prices will go with oil, especially as we are hitting the colder months. It is unknown if there will be a strong enough demand for oil to support a $80 a barrel price tag.

One aspect of the CAD is it often follows oil prices. So if investors don't know the direction the oil prices will go, what chance do the rest of us have?

CC

Re: Exchange rate
 

Greetings all,

Just jumping on to this thread as we are in a similar boat. We need to exchange by 14 Dec. After talking to moneycorp, and scanning articles etc, the future did indeed look glooooomy. I managed to book at 2:1 precisly. Its like playing Deal or no deal with real money. Do you jump or not, I've bottled it and gone but at the mo looks like a good decision but in 6 weeks who knows.:confused::confused::confused:

Best of luck to all those with this agonising decision