Raska

I dont know what happened that Canadian dollar jumped so high like this. :scared: It's been about some months I have been waiting to see it coming down, so that i can exchange my funds into CAD, but still it's on it's way to the top.

Any body has any idea on this? Do you think it may come down in a near future?

SpeC

Why would you want it to come down ? the higher it is the more money you will get.

Glaswegian

Depends what George Dubbya does next ... parity would be nice :-)

Alberta_Rose

Nu-uh...if the Canadian dollar is strong, we get less for our pounds!
This spring when we visited we got nearly $2.5 to the pound, now it is about $2.25

I believe there are seasonal fluctuations though, if you watch it for a few years..... it seems to go higher in the sping/early summer and then drop as the year goes on...lets hope it climbs again for next year when we shall want to be buying dollars!!

Morw

oceanMDX

The US dollar is weak because of its high budget and trade deficits. Canadian interest rates are increasing - which makes foreigners want to hold C$ for the higher rates.

Predictions are that the C$ will continue to rise, so buy on any weakness.

SANDRAPAUL

Over the long or short term and clarify. Where do you get your data. Is there a link you can point to please?

Thank you

P

Glaswegian

Look on www.cnn.com or www.CBC.ca - the increasing value of the Canadian $ against the US $ is big news here.

Bush has messed up the US economy - there's no indication that his performance will improve in either the long or short term.

SANDRAPAUL

I am a bit dense but and I realise that the US Dollar/Pound/Canadian Dollar are all related but if the US Dollar weakens against the pound etc why does this have a direct affect on the Pound against the Canadian Dollar when the relationship is different? The import/exports between UK and Canada and currency movements would be separate surely from US to Canada and from US to UK/Europe etc.

Economy not a big thing with me! Confused easily.

Rete

Well the stronger Cnd$ is good for my Canadian husband. Over the last 6 years whenever he had to draw against his Cnd pension from the US he would get .75 cents on the dollar, if that. Now at least it is a bit more and increases his buying power down here. Downside is that I spend more when we go to Canada to shop. Oh well, there's always a winner and loser in every game.

mikejw

Hi
with U.K. interest rates nearing a high and with the prospect of stabalising or coming down next year and Canadian rates on the way up,Canada is looking a much better currency to invest in.
The high oil and commodity prices which will probably be with us for some time also mean a better Canadian balance of payments (only major western economy in the black).
Really looks like a strong CDN$ will be with us for some time.
Mike.

Raska

Hi everybody

If you had time up to MARCH 2005 to change your money, when would you do that, NOW or you would wait for a later time? tell my why.

Thanks

wizzard

If everyone knew that for sure we'd all be making a fortune investing in currency. Who can say what the US economy will do. Most people seem fairly sure the US$ will remain weak and that Bush will keep it weak to boost exports and stimulate the US economy and given his crappy economic record and the huge defecit amd all that you could end up with a Canadian Dollar much higher or something else could happen that makes it fall.

Drew

iaink

High dollar is hurting my employer as mostly we sell to the US in $US, so we are more expensive in real terms.

CDN dollar is high because of worries over both the US defecit level, which needs to be addressed soon by a cutback in US spending (but wont be with $Billions being spent in Iraq), and worries over oil prices (sold in $US), and also because of relatively good health of CDN economy due to oil / power exports to the US.

Personally I cant see any of these changing in the short term, unless the US economy has a big downturn, which will have a knock on effect on the canadian economy. US/CDN exchange may then stay about the same, but GBP/ CDN exchange may weaken as UK economy should be less affected by US recession that is bound to occur if current defecit levels arent addressed.

I suspect that the reality is not that the CDN dollar is especially strong right, now, it is more to do with currency traders being concerned about the US economy, and 4 more years of Bush given his fiscal record.

$2.25 per pound is actually about average for the last 6 years I've been here, $2.50 is as high as its been for years, and I was below $2.20 for a while a couple of years ago.

Raska

Dear IAINK

Does it mean if i HAVE TO change my funds into CDN, better now that later (since as i said March is the last chance for me, and as you predict it's not ging to lower than in short term)

Glaswegian

Never heard the phrase "the US sneezes and the UK catches a cold"?

If the US economy tanks, the UK economy will follow.