when should i change my $8000 U.S to Canadian..

[olddog]

yesterday rates were U.S $1= CAD$1.13, today it is 1=1.09
I would have changed it yesterday but my wire transfer was not cleared till today.
I noticed that the fluctuation from january to around may was at a high of 1U.S =1.3 CAD.
thats like a $1500-$2000 more than what i would get today.
I dont mind holding unto it for a little while....and i figured it would go lower than the 1.03ish that its at right now.
Any suggestions or predictions on when i might see the light of 1=1.3 again?
I will be even ok with 1=1.15.
Any idea on when the exchange rate fluctuates up or down?
specific time during the week or month to target for?
when do you think will be the best time for me to change my U.S funds to canadaian. its currently sitting in my TD U.S account.
I have no knowledge on things of this nature, so please enlighten me.


Thanks
olddog

[taylor192]

Jan 18, 2002

1.6132 exchange rate

Use this:

[tng11]

Don't bother with timing FX transactions as it's pretty hard to predict which way it will go the next day. If you might have use for the USD, just hold onto it but if you don't need it just sell it because it might go down further the longer you hold onto it.

I remember when I bought 100K USD when it was 0.90 CAD=1 USD. I sold off 70K of it when it was 1.01 CAD=1 USD and the USD just kept going up to 1.30 CAD=1 USD, almost a $20K difference. I would have thought with the USD economy going down the toilet the USD would fall further but how wrong I was.

[coleworld]

yesterday rates were U.S $1= CAD$1.13, today it is 1=1.09

Umm there was not a 4 cent change from yesterday

Any suggestions or predictions on when i might see the light of 1=1.3 again?
I will be even ok with 1=1.15.

You probably will be waiting a long time to see 1.30 but my guess is as bad as any of the best economists.... its a guess for everyone.

You should transfer $2000 at a time once per week for the next 4 weeks and you will average it out... at least thats what i would do

[ilusa]

Id hold off until you get atleast 10 cents on the dollar.

So sell around .9

It did move up a bit today,, but if your not in a horrible rush. It will bounce around

[shawn99]

It's great right now for those that want to convert Canadian to US

[Noobzilla]

China will soon catch on that giving products to the US in exchange for printed US dollars is a big scam. The USD has nowhere to go but down.

[Wing Nut]

No one, not even the best currency trader, can answer this question. We're all just guessing. I think we'll hit par by year-end. If you don't need the cash for a few more months, you could wait until then. However, I could be wrong, as could anyone else who offers an opinion in this thread. It's like predicing a coin flip. It can go either way.

[Cough]

No one, not even the best currency trader, can answer this question. We're all just guessing. I think we'll hit par by year-end. If you don't need the cash for a few more months, you could wait until then. However, I could be wrong, as could anyone else who offers an opinion in this thread. It's like predicing a coin flip. It can go either way.

You are a certified financial planner, you think the exchange rate is going to par, and you advise him to wait to change his US$$ ???

Perhaps you could post your business information so everyone knows to avoid you.

To OP, the market is the market and the "best experts in the world" have made their bets in establishing that market. Why do you think you or anyone on RFD is a better expert. Bottom line is - change the money if you need $CDN. Hold onto it and avoid the usurious commissions/spread if you dont.

[crazyproton]

You can never time the exchange rate. I usually spread my USD buying in a few batches. Sometimes you buy it low and sometimes you buy it high. At the end, you just get an average off the lows and highs, rather than betting on the luck to catch the lows.

[Noobzilla]

To OP, the market is the market and the "best experts in the world" have made their bets in establishing that market.

They're making their bets in the hopes of making short term gains, and who knows what will happen in the next round. But there's a cheater at the table. There's a guy who borrowed a lot of money and can't pay it back, so now he's printing aces - cheating at the expense of the other players.

[squid]

You can never time the exchange rate.

I think you can. Canadians avoided the US in the early part of this decade when the dollar was .6 of a USD and Canadians bought Billions of stuff from the US when the dollar hit par to US. This is effective timing and it also highlights the imbalances in the then prevailing currency exchange. It also works well with assets (real estate and stocks).