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Re: Exchange rate
Originally Posted by geedee
(Post 5499810)
There are those that say the Pound is way overvalued, being strong because of UK house price inflation and good interest rates (for savers), and that it is due a "sharp" correction as the economic fundamentals are rubbish. No, I don't know what they're on about either!
There are also those that say with the Loonie being so strong, it is going to hurt the Canadian economy, because people from abroad can no longer afford to buy stuff here (heard on the radio last week 700+ jobs lost at some plant or other due to a dramatic drop in orders). Therefore they are going to have to "correct" too, maybe by lowering interest rates. Bottom line.... flip a coin! I see its down to 1.95 today (which means you would actually get 1.93 or 1.94 something). I personally think we may see it dip into 1.8something within the next 3 months, especially if the UK housing market takes the turn that people are predicting. People who exchanged recently and got what they thought was an absolutely terrible rate probably did the right thing. |
Re: Exchange rate
Originally Posted by NSpaul
(Post 5501309)
out of curiosity is that they exact phrase they used?:)
I see its down to 1.95 today (which means you would actually get 1.93 or 1.94 something). I personally think we may see it dip into 1.8something within the next 3 months, especially if the UK housing market takes the turn that people are predicting. People who exchanged recently and got what they thought was an absolutely terrible rate probably did the right thing. You're right about changing cash at a better time. I have held off for 2 months hoping to see it drift back to 2.35. In that time, it's dropped like a stone, and dropping faster. However, someone who appears well versed in these matters on another forum says the BOC have to intervene, and do so quickly, or it will be a disaster for Canada. Apparently the currency is being pushed up by speculators, nothing else. Did you see on TV last night how Chrysler Canada are now selling cars for the same price as in the States, to try and stop people just popping over the border? And they're shedding 1200 jobs in Canada. As I said on here before a while ago, our dream of buying a house here is now just that. We will try not to change one single penny at these rates. |
Re: Exchange rate
As i posted yesterday had to transfer money, i used money corp, just checked my accounts in canada and the money is already there. Pretty damm fast i thought. Next day service and thy seemed very professional. i have no hesistation in recommending them
regards steve |
Re: Exchange rate
Originally Posted by geedee
(Post 5503075)
yeah, honest, they said "rubbish":lol:
You're right about changing cash at a better time. I have held off for 2 months hoping to see it drift back to 2.35. In that time, it's dropped like a stone, and dropping faster. However, someone who appears well versed in these matters on another forum says the BOC have to intervene, and do so quickly, or it will be a disaster for Canada. Apparently the currency is being pushed up by speculators, nothing else. Did you see on TV last night how Chrysler Canada are now selling cars for the same price as in the States, to try and stop people just popping over the border? And they're shedding 1200 jobs in Canada. As I said on here before a while ago, our dream of buying a house here is now just that. We will try not to change one single penny at these rates. Certainly a long term high Canadian dollar cannot be good for the economy since Canadian goods now look very expensive. The car pricing is a joke (or rather a real annoyance), Chrysler are desparate but the stronger Japanese manufacturers are pulling out the stops to try and stop Canadians buying cars in the US. Subaru appear to be the one exception. A colleague saved just under 20k buying his Trica in the States last month. And don't even get me started on the price of books!!! |
Re: Exchange rate
Originally Posted by geedee
(Post 5503075)
However, someone who appears well versed in these matters on another forum says the BOC have to intervene, and do so quickly, or it will be a disaster for Canada. Apparently the currency is being pushed up by speculators, nothing else. http://www.cbc.ca/money/story/2007/1...ollarrise.html |
Re: Exchange rate
Originally Posted by Posidrive
(Post 5503136)
And don't even get me started on the price of books!!! http://www.cbc.ca/cp/business/071031/b1031150A.html Others following suite rapidly. |
Re: Exchange rate
Originally Posted by Iain Mc
(Post 5499538)
At least we're not moving US dollars!
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Re: Exchange rate
Originally Posted by dandersen
(Post 5503249)
Makes me want to cry. I see today 1 US dollar is only 93 cents! Not good for my plans of buying a house right after landing this spring. Regardless, I'll be happy to be out of Southern California.
http://www.tdcommercialbanking.com/t...ance/rates.jsp |
Re: Exchange rate
Originally Posted by Steve_P
(Post 5503266)
93 cents is the official exchange rate if you were to sell US dollars at the TD Bank you'd only get 91.36 cents Canadian for them.
http://www.tdcommercialbanking.com/t...ance/rates.jsp Don't really but you get how some people are feeling. |
Re: Exchange rate
Originally Posted by steve666
(Post 5503862)
Oi! I hope you have to suddenly up and buy a house in California.
Don't really but you get how some people are feeling. |
Re: Exchange rate
Originally Posted by Steve_P
(Post 5504022)
Just telling it as it is.
But most of us want .... Hey, Don't worry already!! Life is GOOD out here! Money! Shworry! Hey it's paradise! You'll do real good! Big houses! People are all like angels! Meanwhile I'm trying to find out what these bloody cables trailing across the basement ceiling are being used for. For they may lead anywhere..I'm going to find a Shakespeare sonnet for how I feel about this around 3am Saturday morning. Thank whatshisname the clocks go back this weekend. Sorry Steve, this laptop is far too close to the basement door.:) |
Re: Exchange rate
Originally Posted by Steve_P
(Post 5503140)
So high oil prices and a strong economy with low unemployment have nothing to do with it then? :confused:
http://www.cbc.ca/money/story/2007/1...ollarrise.html |
Re: Exchange rate
Originally Posted by Danny B
(Post 4654623)
Damn it's down to $2.25 now :( almost 10c less than what it was in Feb.
They reckon interest rates will almost certainly be going up next month to stop inflation rising any more. It is so frustrating watching the rate going down while you are weeks away from selling your house to convert to dollars... Best wishes Sam and Stuart |
Re: Exchange rate
Originally Posted by sam/stu
(Post 5504293)
I know that you were the first to start this thread so I thought I would let you know our sorry tale ...! We had our first reccie in March 2005 when the $ was $2.39, moved a year later and HAD to exchange the proceeds of our house. We got $2.03 then ... if anyone is 'sick' it is us, we would have loved to have got $2.25!!!
Best wishes Sam and Stuart |
Re: Exchange rate
Originally Posted by geedee
(Post 5504253)
And the "low unemployment" seems to be changing very fast, if CBC TV is to be believed. Lots of companies laying off now... because nobody can afford Canadian stuff.
From the same CBC article: http://www.cbc.ca/money/story/2007/1...ollarrise.html The Canadian economy added 63,000 jobs in October, pushing the jobless rate down 0.1 of a percentage point to 5.8 per cent — a 33-year low. http://www.cbc.ca/money/story/2007/11/02/oct-jobs.html Really hard to say where things are going, although selfish as it sounds, a little slowdown in things would be welcomed by some, myself included. |
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