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Re: Exchange rate
Originally Posted by cneldred
(Post 6063676)
They was a conference call this afternoon when they(BS themselves) said they probably won't exist on Monday. JP Morgan are keen to rescue them. The Fed lent them collateral via JP Morgan to tide them over today. There is an announcement of their results after market on Monday. They Fed are probably delighted this happened on a Friday at least they have the weekend to sort something out.
After this Citibank revised their calls on Fed Rate decision due Tuesday, they are now calling for rates to be cut by a full 1% (100 bp). Chris Hope you aren't getting burned. |
Re: Exchange rate
for about 90secs it was career over, but i held my position until the dust cleared and did alright. Sorry if i have been the bearer of bad news, good luck on Monday whatever you decide to do.
Chris |
Re: Exchange rate
Originally Posted by cneldred
(Post 6063773)
for about 90secs it was career over, but i held my position until the dust cleared and did alright. Sorry if i have been the bearer of bad news, good luck on Monday whatever you decide to do.
Chris We live, unfortunately, in "interesting times"! I'm starting to think I might just change my pounds at whatever rate is going on the day, and buy a house. Then that's the end of it.... no more worrying whether the bank is going to collapse and leave me penniless (they wouldn't pay me back my savings, but I bet the administrators would hound me to recover my credit card balance!:lol:). I'd have nothing left to lose! And if house prices collapse, I won't care because at least I'll have a roof over my head! (albeit a drastically devalued one!) |
Re: Exchange rate
OMG.... maybe the loonie isn't so indestructible after all!
http://www.tickerforum.org/cgi-ticke...www?post=34581 The Québec Pension Plan (Caisse) and the Ontario Teachers' Pension Plan are on the hook for some $33 billion in ABCP as are 40 other trustholders, mining companies, paper companies, etc all of which thought they were buying short term easily marketable notes. This story has been brewing since last summer (see Global Credit Crisis Canadian Style). However bailout plans have now blown up as deadline after deadline for coming up with a solution has been missed. With the Bank of Montreal Missing Margin Calls earlier this month, what had to happen did: ABCP players to seek bankruptcy protection. |
Money transfer
Hi guys,
We are booked to fly to canada in July. I now need to sort out transfering money there. Has anyone got recommendations of the best way to transfer say 50,000 to Canada. Thanks |
Re: Exchange rate
Have you already changed the currency into CAD$?? Of so should be very easy just pay your bank about GBP 30 and they will do a BACS transfer. Otherwise you need to find a Forex company you are happy to deal with.
Chris |
Re: Exchange rate
G586, just an update for you. JP Morgan have purchased Bear Sterns over the weekend for US$240 mil, 10% of their value a week ago. This money was lent to JP Morgan by the Fed. The other big news, the FOMC cut discount rate Sunday night by 25bp....bearing in mind they have a scheduled meeting Tuesday night. This is a huge panic measure, the first time in my 13 years i have seen it happen over a weekend. It happened just before Toyko opened for business, and stocks there don't like it, down 3% already.
Good luck whatever you decide to do. Chris |
Re: Exchange rate
Have you seen the Euro > USD rate recently :ohmy:
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Re: Exchange rate
Yes, i love it. 95% of my trading is in the euro.
Rumours circulating earlier this morning that Lehmans and Barclays are in trouble. Chris |
Re: Exchange rate
How is all this turmoil likely to affect the pound/CAD exchange rate??!:confused:
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Re: Exchange rate
Originally Posted by cneldred
(Post 6074217)
Yes, i love it. 95% of my trading is in the euro.
Rumours circulating earlier this morning that Lehmans and Barclays are in trouble. Chris Guiness at half price. |
Re: Exchange rate
Originally Posted by chriskatie
(Post 6075554)
How is all this turmoil likely to affect the pound/CAD exchange rate??!:confused:
Chris |
Re: Exchange rate
Originally Posted by cneldred
(Post 6075888)
Both economies are experiencing slow downs and both central banks are in a cutting cycle. If a Canadian bank were to have difficulties then we would be getting much more CAD$ for our £. So you know what to pray for!!
Chris |
Re: Exchange rate
I need to look into that actually, anyone know how you go about switching a UK private pension into a Canadian RRSP.
Chris |
Re: Exchange rate
Originally Posted by cneldred
(Post 6072119)
G586, just an update for you. JP Morgan have purchased Bear Sterns over the weekend for US$240 mil, 10% of their value a week ago. This money was lent to JP Morgan by the Fed. The other big news, the FOMC cut discount rate Sunday night by 25bp....bearing in mind they have a scheduled meeting Tuesday night. This is a huge panic measure, the first time in my 13 years i have seen it happen over a weekend. It happened just before Toyko opened for business, and stocks there don't like it, down 3% already.
Good luck whatever you decide to do. Chris Appreciated - been watching Bloomberg this pm.... Let me know if you hear RBS is in trouble........I'm already stuffed but I wouldn't want to lose the lot. Ta! |
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