$$ cdn:us

Any thoughts on whether the Canadian $ will eclipse the USD in value again anytime soon? I am considering a move to the US in the spring and have a large chunk of change to convert...should have done it at $1.04 but didn't think of it back then.
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Comments

  • Yeah wish I knew. Avery Shenfeld's name has come up a couple of times for me in the last few months. Here's one report, he predicts:


    Shaky global conditions are also likely to continue weighing on sentiment for the resource-linked Canadian dollar, says Mr. Shenfeld. This will create room for the loonie to "slide further in the coming months, until the crisis fires in Europe are quenched." He's forecasting the loonie will fall to 92 cents U.S. by early summer.

    CIBC WORLD MARKETS | Lacklustre year ahead for Canadian economy but recession is avoidable: CIBC
    .
  • Sorry but you quoted with something that had CIBC in it, scums of the banking universe, so don't believe any of that shit.
  • philliivey wrote: »
    Sorry but you quoted with something that had CIBC in it, scums of the banking universe, so don't believe any of that shit.
    foreclosure or called a loan?
  • compuease wrote: »
    foreclosure or called a loan?


    Quite likely CIBC is rigged. Philli will find us a bank that is beatable. :rolleyes:
  • Maybe a little off topic, but after spending my whole 24 years on this earth with TD bank, just today, my significant other and I opened an account with PC financial.

    Free day to day banking has its perks, and we should save a fair amount annually, so all in all im pretty happy with our decision, might be something some of you might want to look into if you haven't already
  • Quite likely CIBC is rigged. Philli will find us a bank that is beatable. :rolleyes:

    European banks are the best
  • GTA Poker wrote: »
    European banks are the best


    I don't follow the news much but I remember hearing something like that a lot lately.
  • philliivey wrote: »
    Sorry but you quoted with something that had CIBC in it, scums of the banking universe, so don't believe any of that shit.

    Yeah everyone seems to have a different banking experience. Been with them since 96. Whoever trains the phone reps there has done an amazing job. I've always thought their online site was strong. (Now can transfer US dollars to CAN dollars online but having talked to them about that 1 or 2 years ago it was more of a regulation issue they said not a technical problem.) Also they have a division called Firstline mortgages and we got an unbelievably low "prime minus" rate from them a year ago.

    Even so all the stuff above aside, I've had a lot of success in my work/business life since 96 so that's how our opinions may differ.
    .
  • philliivey wrote: »
    Sorry but you quoted with something that had CIBC in it, scums of the banking universe, so don't believe any of that shit.

    Philli, are you Philliing us?
  • I play the USD quite a bit. loaded up at 104.5 last time, sold it at 96 cents. Then bought back in when it hit one for one again. You really need the stock market to take off and hope Europe doesn't explode. Oil use to be a driving factor but it doesn't seem as important any more...maybe their is still a lot of demand for USD because of Europe issues?

    I'm getting 1.011 this morning so its getting pretty close again.

    Shorting the Euro against the USD is really the way to go if you can figure out how to do it.
  • pokerJAH wrote: »
    I play the USD quite a bit. loaded up at 104.5 last time, sold it at 96 cents. Then bought back in when it hit one for one again. You really need the stock market to take off and hope Europe doesn't explode. Oil use to be a driving factor but it doesn't seem as important any more...maybe their is still a lot of demand for USD because of Europe issues?

    I'm getting 1.011 this morning so its getting pretty close again.

    Shorting the Euro against the USD is really the way to go if you can figure out how to do it.

    Almost at parity...trying to wait for 1.02 to convert some money.
  • I usually buy in increments (not going to get into $$$), so when it gets to par, I buy $, at 1.05 I buy $$. Anything getting close to 1.10, I buy the farm. The key is to have quick access to funds so you can pull the trigger at a moments notice. If you can find a friendly trader, branch manager, etc., to keep you updated when the dollar gets to PAR etc., that way you are always updated.
  • Where do you find the best "juice" in cnd/us conversion?

    Casinos?/Banks?/currency exchange?
  • literation wrote: »
    Yeah everyone seems to have a different banking experience. Been with them since 96. Whoever trains the phone reps there has done an amazing job. I've always thought their online site was strong. (Now can transfer US dollars to CAN dollars online but having talked to them about that 1 or 2 years ago it was more of a regulation issue they said not a technical problem.) Also they have a division called Firstline mortgages and we got an unbelievably low "prime minus" rate from them a year ago.

    Even so all the stuff above aside, I've had a lot of success in my work/business life since 96 so that's how our opinions may differ.
    .


    Really? I've been exchanging online with ING for over 10 years. Actually from day 1 when they opened for business.
  • GTA Poker wrote: »
    European banks are the best

    Credit Unions are the best. PC Financial for my poker $$$.
  • moose wrote: »
    Really? I've been exchanging online with ING for over 10 years. Actually from day 1 when they opened for business.

    Good to know, I should have asked here.
  • Milo wrote: »
    Credit Unions are the best. PC Financial for my poker $$$.

    u ok?

    see: I wish I could play on those great Euro sites
  • GTA Poker wrote: »
    u ok?

    see: I wish I could play on those great Euro sites

    I'm fine . . . how about yourself?
  • Where do you find the best "juice" in cnd/us conversion?
    Casinos?/Banks?/currency exchange?
    I have a lot of US dollars that I will have to convert to Cdn $ at some point so I have the same question. Some banks claim to have preferred exchange rates for select customers (e.g., TD Borderless Plan), but I read that doing it through an online conversion site may be a better way. Has anybody here gotten a great conversion online? What about if I find a friend who needs a lot of US dollars and do a mid-point exchange to skip all the juice?
    pokerJAH wrote: »
    I play the USD quite a bit.
    :
    Shorting the Euro against the USD is really the way to go if you can figure out how to do it.
    Aren't there commissions/fees for a currency trade? Seems like a negative sum game in the long run except for professional full-time currency traders with inside information. If I have a big amount I want to convert, rather than trying to predict the unpredictable and find the perfect moment to convert it all, I think I'd rather do several conversions spread out over time, just like the dollar cost averaging strategy.
  • But the bigger the trade, the better the rate you can negotiate.
  • BlondeFish wrote: »
    I have a lot of US dollars that I will have to convert to Cdn $ at some point so I have the same question.

    I wonder if using a site like goldmoney.com would work. I didn't look into it enough but thought of doing that. I ended up just buying some gold and after a few months cashing it back out, all with my US dollar account. To cash it back to my Canadian account it would have been another application to fill out.
  • I don't think the Euro story is over. January 1st came and a new year begun and its like everyone forgot about all the problems in Europe. Once the Euro crashes at some point, the USD will fly so the days of being near PAR will soon be a distant memory. Then you will be lucky to get 90 cents US. The market is very sensitive to any negative news. Anything can set off another market crisis which will lead to the Cdn$ falling again. I wouldn't wait for the USD to get back to 1.05 +.
  • pokerJAH wrote: »
    I don't think the Euro story is over. January 1st came and a new year begun and its like everyone forgot about all the problems in Europe.

    Agreed.
    .
  • literation wrote: »
    I wonder if using a site like goldmoney.com would work. I didn't look into it enough but thought of doing that. I ended up just buying some gold and after a few months cashing it back out, all with my US dollar account. To cash it back to my Canadian account it would have been another application to fill out.

    Never mind. I just noticed they warned in December can no longer convert directly between currencies and was in effect starting yesterday :(
  • Best rate I used to get back in the day was an edmonton company named globex or globefx or something. Bendix on Adelaide in Toronto usually has a better rate than banks
  • just binked parity as i stepped in the door from California
  • GTA Poker wrote: »
    just binked parity as i stepped in the door from California

    Nice to see as I get ready to head to Vegas next week. You should join me at the new Jamie Gold Poker Room. Talk about a deep game, 2/5 with $75k on the table the other night.

    btw, you should also consider playing on Live at the Bike since you are in the general vicinity. They ran a live 5-10 Omaha game last night and I think they return to their usual 5-5 game on Friday.
  • LATB would be fun. I'm back in Edmonton now but if I move to Cali I will definitely drive to LA and represent the forum on there sometime.
  • Has anyone here ever used Canadianforex? Rates much better than my bank...must exchange over 2k.
  • Anyone know of a decent high interest US savings account for holding excess US funds? Thanks.
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