Exchange rate
#1217
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OK campers.... any thoughts as to which way it's going to go? It's hovered around 2.0 for ages, with bad news coming from both countries! Are we locked here for a while or does anyone foresee a swing one way or the other?
I will have to change a large amount (for me, anyway) soon for a deposit on a house.... I have a 2 week window. Any help appreciated!
I will have to change a large amount (for me, anyway) soon for a deposit on a house.... I have a 2 week window. Any help appreciated!
Don't do what I did and get greedy though - keep your targets a little below where you feel the market will go. And don't forget to add in the traders spread. We got 1 cent off spot, so if spot was at 2.01, our order at 2.00 would get filled.
www.hifx.co.uk have a good marketwatch section on their website with live currency charts and history.
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#1218
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My advise - split the trade in two. Do half at something around 2.00-2.01 (depending on where spot is when you place order), then half at a few points higher. You can always adjust in a few days if the orders doesn't get filled.
Don't do what I did and get greedy though - keep your targets a little below where you feel the market will go. And don't forget to add in the traders spread. We got 1 cent off spot, so if spot was at 2.01, our order at 2.00 would get filled.
www.hifx.co.uk have a good marketwatch section on their website with live currency charts and history.
Don't do what I did and get greedy though - keep your targets a little below where you feel the market will go. And don't forget to add in the traders spread. We got 1 cent off spot, so if spot was at 2.01, our order at 2.00 would get filled.
www.hifx.co.uk have a good marketwatch section on their website with live currency charts and history.
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OK campers.... any thoughts as to which way it's going to go? It's hovered around 2.0 for ages, with bad news coming from both countries! Are we locked here for a while or does anyone foresee a swing one way or the other?
I will have to change a large amount (for me, anyway) soon for a deposit on a house.... I have a 2 week window. Any help appreciated!
I will have to change a large amount (for me, anyway) soon for a deposit on a house.... I have a 2 week window. Any help appreciated!
He works for Excel Currencies,
I will send you his contact number in an e-mail ?
If anyone else wants it just post a reply and i will send you his details.
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Hey taught you might like to know of a company i am using. I have a broker who knew a good bit of info about the Pound verses the Euro and when I asked about the Canadian Dollar he put me on to his senior broker who I found to be very helpful and has being quite good at predicting which way the markets are going . I get sent a daily update on the markets and find its better then watching the news all night (haha).
He works for Excel Currencies,
I will send you his contact number in an e-mail ?
If anyone else wants it just post a reply and i will send you his details.
He works for Excel Currencies,
I will send you his contact number in an e-mail ?
If anyone else wants it just post a reply and i will send you his details.
Thanks
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#1221
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I changed a fairly hefty sum at 2.0025 today, which I thought was a bit lame (2.0142 on the beeb).
I'm stuck really. I have to have a bankers draft for a deposit on a house by Tuesday. The rest is now "on hold" and not earning interest until I say go!
With oil and gold plunging, plus the USD rising, I am convinced the GBP will gain against the CAD before the 7th of May.
If I'm wrong, so what, I just lose money .... sniff....
I'm stuck really. I have to have a bankers draft for a deposit on a house by Tuesday. The rest is now "on hold" and not earning interest until I say go!
With oil and gold plunging, plus the USD rising, I am convinced the GBP will gain against the CAD before the 7th of May.
If I'm wrong, so what, I just lose money .... sniff....
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#1222
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Hope your break was good and welcome back.
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Look like the rate starting to drop again, not so good
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#1225
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its dropping because we complete on our sale next week and were planning to move the money over straight away!!!
In reality it is because oil has spiked higher, Canadian economic data isn't too bad at the moment and the Bank of England are looking to more rate cuts.
Chris
In reality it is because oil has spiked higher, Canadian economic data isn't too bad at the moment and the Bank of England are looking to more rate cuts.
Chris
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OK Chris. Have you completed on your sale yet, because I could really do with seeing the rate go up a bit?
Seriously, gaze into your crystal ball for me and tell me if it is going to get worse every day from now on as this does appear to be the current trend.
I am starting to panic as with every passing day my house effectively goes up in price by about £1000.
Seriously, gaze into your crystal ball for me and tell me if it is going to get worse every day from now on as this does appear to be the current trend.
I am starting to panic as with every passing day my house effectively goes up in price by about £1000.
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#1227
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CAD still near historic highs vs Sterling
- No sign of a commodity slow down yet
- GBP under renewed pressure
Within the last week the Bank of England “no change” verdict, another all time high for oil and a woeful UK RICS survey have all brought the prospect of another Sterling CAD low back into play. Currently the rate is sitting a whisker over 1.95 a level last seen back in early March a few weeks after Northern Rock had managed to exit the FTSE 100 in a rather rapid fashion.
The no change verdict from the UK MPC will have been based in some part on this week’s inflation report, recent data alone would hardly have justified keeping rates at 5.00%. CPI for the UK out this week surprised to the upside as did the PPI so inflation pressure for businesses and consumers continues to heat up.
Part of the reason inflation remains a hot topic is because of the strength of commodities. Canada as a net exporter of oil and as a mineral and resource rich country has the fortunes of its currency historically entwined with rises and falls in the price of commodities. Oil continues to hit new uncharted territory, it seems that every week we breach a new high and filling up my car becomes more eye wateringly expensive. Energy and food continue to grab headlines as across the pond consumers face the “spectre” of $4 per gallon fuel. Whatever, they should try $12.50 per gallon. Maybe if our North American cousins did move to the UK or Europe the idea of a 5.7 litre Chevy blazer in the drive would be slightly less appealing.
On a less sanctimonious note, the price of wheat and rice in the world’s poorer economies ensure that the price of commodities remains a life changing issue for those on the poverty line. Either way the boom in “stuff instead of stocks” will continue to create news flow and drive demand for certain currencies. The CAD remains one such unit and shows little scope for weakening unless we see a very aggressive rate loosening phase from the Canadian central bank or a crash in commodity prices.
Whilst that CAD has a fan base all of its own for the reasons described above. It seems that Sterling continues to fight for its position in the battle for most credit crunch affected currency of the year. The latest RICS figures , which were the worst since records began, show the effects of a tightening credit market on an economy where levels of individual debt remain heady and the era of cheap credit is finding its way into our recent history. All of this points to an anxious UK consumer, reluctant to spend, faced with mounting monthly outgoings. Hardly likely to drive the Pound higher against the strengthening CAD now or any time soon
- No sign of a commodity slow down yet
- GBP under renewed pressure
Within the last week the Bank of England “no change” verdict, another all time high for oil and a woeful UK RICS survey have all brought the prospect of another Sterling CAD low back into play. Currently the rate is sitting a whisker over 1.95 a level last seen back in early March a few weeks after Northern Rock had managed to exit the FTSE 100 in a rather rapid fashion.
The no change verdict from the UK MPC will have been based in some part on this week’s inflation report, recent data alone would hardly have justified keeping rates at 5.00%. CPI for the UK out this week surprised to the upside as did the PPI so inflation pressure for businesses and consumers continues to heat up.
Part of the reason inflation remains a hot topic is because of the strength of commodities. Canada as a net exporter of oil and as a mineral and resource rich country has the fortunes of its currency historically entwined with rises and falls in the price of commodities. Oil continues to hit new uncharted territory, it seems that every week we breach a new high and filling up my car becomes more eye wateringly expensive. Energy and food continue to grab headlines as across the pond consumers face the “spectre” of $4 per gallon fuel. Whatever, they should try $12.50 per gallon. Maybe if our North American cousins did move to the UK or Europe the idea of a 5.7 litre Chevy blazer in the drive would be slightly less appealing.
On a less sanctimonious note, the price of wheat and rice in the world’s poorer economies ensure that the price of commodities remains a life changing issue for those on the poverty line. Either way the boom in “stuff instead of stocks” will continue to create news flow and drive demand for certain currencies. The CAD remains one such unit and shows little scope for weakening unless we see a very aggressive rate loosening phase from the Canadian central bank or a crash in commodity prices.
Whilst that CAD has a fan base all of its own for the reasons described above. It seems that Sterling continues to fight for its position in the battle for most credit crunch affected currency of the year. The latest RICS figures , which were the worst since records began, show the effects of a tightening credit market on an economy where levels of individual debt remain heady and the era of cheap credit is finding its way into our recent history. All of this points to an anxious UK consumer, reluctant to spend, faced with mounting monthly outgoings. Hardly likely to drive the Pound higher against the strengthening CAD now or any time soon
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#1228
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Complete on the sale tomorrow!!! In 2 minds about changing money up straight away.
Won't need to tell you when we change our money up, you will probably see an immediate retracement in the rate.
Chris
Won't need to tell you when we change our money up, you will probably see an immediate retracement in the rate.
Chris
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#1229
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Darling has just raised the personal allowance to try and make up for taking away the lower rate band apparently costing 2.7 billion, no doubt another nail in the coffin of the exchage rate, O and labour.
Good luck with the house Chris
Good luck with the house Chris
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#1230
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Sorry to be so nosy and anxious, but just very curious to hear what your decision was Re: changing money straight away or not?
We follow your advice here very closely and we are on the brink of exchange as well.
Thanks
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