Re: Exchange rate
 

Bank of Canada interest rate decision next Tuesday 22nd Jan at 2pm UK time....they are now expected to cut rates by 0.25%, CAD$ 2.0281 as i type.

Chris

Re: Exchange rate
 

I'm a bit clueless with this. Is this good or bad news for us moving from £ to $CAD...seems to be good as it is moving up.

:confused::blink:

Re: Exchange rate
 

it's very good. The posts on the previous page go some way to explaining it.

Chris

Re: Exchange rate
 

Thanks Chris very much appreciated I should have taken the time to go back and read. (but 858 posts...eeek)

Your info is invaluable.

Will be watching rates now with very very much interest as we are due to move around the spring when the sale of house should go through. Then I'll have a lump sum from the MOD around July to consider therefore if it goes up to a good level might see if it is worthwhile locking the rate with HiFx or similar company.

Cheers Dave

Re: Exchange rate
 

MOD eh, i am what you would call a pads brat. Who did you serve with? I grew up in Germany and went to numerous military schools over there.

Chris

Re: Exchange rate
 

In Germany 3 Tank Transporter Sqn - Sennelager
then 26 Sqn in Northern Ireland

Now in England waiting to leave July 06 but hope to be in Canada around springtime.

Where / Who was your old man with.

Both my kids were born in Germany - Rinteln & Isherlohn.

Small world eh.......loads of Mil on here emmigrating.

Re: Exchange rate
 

What a confusing time and yes, I am clueless too when it comes to this topic.

Can anyone advise for someone living in Canada, if it is imperative to change US funds to CDN. before $US gets any lower?. Roughly the amount in $US funds = $60K. Only reason to change to CDN. at the moment is the falling $US. I have been told that if I don't take action, I will lose it all.

Re: Exchange rate
 

My dad was then RAPC, served in Lippstadt, Minden, Munster, Berlin, Osnerbruck, Werl, and his last posting was BMH Rinteln. We were there 1988 until 1992, although i left to go to boarding college in 1990, prior to that i went to PRS Rinteln.

Re US$, depends when you need it. Next 12 months the rate isn't going to improve, 2 to 3 yrs down the line i am optomistic for a US$ recovery. You will never have nothing, the holding will always be worth something. In my opinion with 13 years experience in trading and broking financial markets i believe that we have seen the strongest the CAD$ will get verses US$.

All the best


Chris

Re: Exchange rate
 

See small world. My daughter was born in BMH Rinteln in 89 & if I remember PRS was on the right hand side up on a slight hill as you came in off the autobahn Route2. I have some great memories of Germany, Berlin was a fantastic city we used to have fun transporting the heavy armour down the corridor being spied on by the Ruskies. The REME lads going through checkpoint Bravo pulling moonies did't go down well though on one occasion...but it was funny...:lol:

Back to the $ all we can do to hope we see an improvement soon as we will be leaving the UK shortly and it's pretty pants at the moment compared to 2.30 last year!!

I've sent you some other names in a PM ref other RAPC pers your dad might know.

Cheers for your help Dave

Re: Exchange rate
 

Agree on the rate however a damn site better than 1.91 not so long ago.


Chris

Re: Exchange rate
 

Absobloodylutely...is that a real word :blink:

Re: Exchange rate
 

US FOMC just did an emergency rate cut of 0.75% in interest rates, due to the massive stock market turmoil. They had been expected to cut rates by 0.50% next week anyway. Bank of Canada are due to announce a scheduled rate decision in 20 minutes, expecting a cut of 0.25bp.

Chris

Re: Exchange rate
 

Thanks Chris

Gotta say I appreciate the input from someone who understands this stuff.

Cheers

Tom

Re: Exchange rate
 

Cut rates 0.25% as expected.....this isn't going to be enough to stop a stronger CAD$ at the moment...the last week has been carnage in the financial markets and the BOC should have been more aggressive.

Chris

Re: Exchange rate
 

Chris

Do you think the Fed caught the Canadians out with the emergency cut?

Tom