Re: Exchange rate
 

Probably get money from advertising

Re: Exchange rate
 

Only ad's appear to be for the exchange people.... Why can't it tell you straight away what the best deal is? Something tells me they pimp around for the best deal for you and then get some kind of commission on it....

Re: Exchange rate
 

Will there be any news coming from the Bank of Canada this week - rate cuts etc? Just that we need to sort out getting a rate and exchanging our funds this week really and I wondered if there was going to be some news if it would make much of a difference to the exchange rate?

BBC quotes 2.016 and we'll be using HIFX who currently have 2.0022 showing on their website today.

Ta!

Zoe M. x

Re: Exchange rate
 

Nothing forecast this week. I have a bid in with my broker, but it's not looking like I'll get it.

Re: Exchange rate
 

Wish we'd exchanged last week when it was up to 2.04 but we live and learn!

Zoe M. x

Re: Exchange rate
 

Bank of England are expected to cut rates by 25bp this week. A couple of housing numbers out from Canada Tuesday and Friday which may show a clearer picture. Oil is rampaging again, close to $110 a barrel again, this time Israel and Iran talking tough with each other.

Chris

Re: Exchange rate
 

Whack!

2 cents off because broon opened his mouth!

Re: Exchange rate
 

Canadian housing numbers were good aswell, whilst UK house prices dropped 2.5% month on month. Obvious strength for CAD$ and weakness for GBP.

Praying the buyer of my house in the UK doesn't pull out.


Chris

Re: Exchange rate
 

I'm praying for you. I hope you return the favour.

Re: Exchange rate
 

Good luck Chris, fingers crossed.

As to the exchange rate, it's back up to 2.01 which is a bit of a surprise given all the bad news coming out of UK Plc. the last few days. Total bearfest!

Re: Exchange rate
 

Hi Zoe,

Just out of curiosity why didnt your broker from HIFX tell you the trend with the market like there supposed to. My broker keeps me updated on trends of the market every single day via email, after all thats the difference between buying at the right time and wrong time. If you want any more info on who I use then just ask. :D

Re: Exchange rate
 

actually there is no trend at the moment, the market is stuck in a broad range. One of the main reasons for that is all the markets are experiencing a huge slowdown, volumes are declining, money is being taken off the table. A lot of the banks and hedge funds have lost obscene amounts of money and as such can't play the game at the moment as they do not have the funding to back up transactions. I have not known the markets to have this low a volume out of holiday periods in my time trading. A lot of people are very spooked.

Chris

Re: Exchange rate
 

Hello everyone ....

Being in contact with Currency Finder.co.uk over the last 3 days . Spoke to a broker from Excel Currencies. He explained alot to me about the markets I must say I was impressed.

It wasn't that he knew everything about the markets. it was more that he was able to explain to me what was going on in the markets and when the best possible time to do the transfer is. I will be doing a small transfer soon with them to see how good there rates are....

Will let everyone know when I do !!!

Re: Exchange rate
 

Chris,

Do me a favour and take a look at the following link
http://newsvote.bbc.co.uk/1/shared/f...elve_month.stm

you will see from this that except for the odd spike in the market, which is justified it has a pretty noticable trend.

You are talking more economic slowdowns on a worldwide scale which doesnt quite have the same impact directly on the currency markets.

Re: Exchange rate
 

arty i trade currencies amongst many other things and believe me a global slowdown has a huge effect on currencies.

Do you have the faintest idea what drives currency moves??? It the strength of the economy, demand for the currency and the rate of return those currencies(interest rates/yields of returns on equities and/or other investments) have.

If there is a slowdown in any particular country (the USA) then that country will take measures to help the economy, cutting rates. The slowdown in effect makes one aspect of holding the currency a negative (rate of return, slowdown means stocks less likely to rise, property price growth stalls) then the steps taken to help the economy (rate cuts) make the currency even less attractive.

Believe me the currency markets are taking full notice of the global situation, why else do you think GBP sterling took a nosedive when Northern Rock puked. Why do you think US$ is in the toilet? Because of the property crash there, coupled with the banking crisis and the rate cuts. No money to be made in property, people are scared to hold US stocks and the interest rates earned from investing cash are reducing.

As for your link, you don't need to send me charts. I look at the bloody things 14 hours a day Monday to Friday. I see things in that chart you couldn't dream of. The currency isn't the primary mover, it follows other leaders, such as oil, interest rates, and global data and news. It will primarily be a fundamental (news driven) contract rather than a technical (chart) contract. Yes there are levels that can be seen on the chart, like the triple bottom around 1.95/6 area. And we do appear to be in a short term uptrend however until we break the recent high of 2.09ish or the triple bottom mentioned before we are infact trading within a broad range as i stated before. And it will be the above mentioned fundamental data that moves it out of that range. For what it is worth i see a moderate US$ recovery in late 2008 early 2009, and weakness in CAD$ and Sterling. I do expect the worst to be over for CAD$/GBP anything above 2.10 i would be more than happy to take as i believe we will not see north of 2.15 this year.

Chris