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EURO & Canadian Dollar

  • 03-01-2015 8:42pm
    #1
    [Deleted User]
    Posts: 0 ✭


    Hi, just looking for advice here as a complete amateur with currencies and have spent the last couple of hours trying to understand what is going on at the moment to no avail so was hoping to find help here...

    Basically I am moving to Canada in March and already have a substantial amount saved but would be hoping to tack another couple of grand on before I leave...

    My question is should I move what I have already saved out of my savings account into Canadian Dollars in my Currency Fair account right now or should I just sit tight. Is there going to be any major changes with this projected fall in the euro I am reading about everywhere?

    I have been monitoring it myself casually on x rates over the last few months where I have seen €7k fluctuate from $10.4k down to $9.8k (currently around $9.9k)

    Any help would be greatly appreciated, thank you!


Comments

  • #2
    conditioned games
    Registered Users, Registered Users 2 Posts: 683 ✭✭✭conditioned games


    From my understanding the 4 currencies that will out perform the rest over the coming years will be the swiss franc canadian austrialian and new zealand dollars. Better to make the move now to be on the safe side before all hell breaks louse sometime this year.


  • #3
    ixus
    Registered Users, Registered Users 2 Posts: 2,435 ✭✭✭ixus


    Euro has weakened on QE expectations. If ECB do nothing in January, or a limited QE, euro will strengthen. I think a lot of it is priced in.

    CAD has weakened on weak commodity prices. It will move in line with these in the short term. Weak prices will also affect oil/mining related jobs so keep an eye on this if this is your sector.


  • #4
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    ixus wrote: »
    Euro has weakened on QE expectations. If ECB do nothing in January, or a limited QE, euro will strengthen. I think a lot of it is priced in.

    CAD has weakened on weak commodity prices. It will move in line with these in the short term. Weak prices will also affect oil/mining related jobs so keep an eye on this if this is your sector.

    OK, this is sort of the train of thought I was on but wasn't sure if I was getting it all wrong. I think I will just buy CAD now and play it safe. I wont be working in these sectors but cheers for the heads up, appreciate it!!


  • #5
    Browney7
    Registered Users, Registered Users 2 Posts: 3,100 ✭✭✭Browney7


    You could convert a third of the amount each month between now and March to do a bit of averaging?


  • #6
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    conditioned games wrote: »
    From my understanding the 4 currencies that will out perform the rest over the coming years will be the swiss franc canadian austrialian and new zealand dollars. Better to make the move now to be on the safe side before all hell breaks louse sometime this year.

    The swiss franc is basically pegged to the Euro atm. The swiss were sick of everyone in the eurozone buying swiss franc as a safe alternative to the Euros and making switzerland uncompetitive.


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  • #7
    conditioned games
    Registered Users, Registered Users 2 Posts: 683 ✭✭✭conditioned games


    hfallada wrote: »
    The swiss franc is basically pegged to the Euro atm. The swiss were sick of everyone in the eurozone buying swiss franc as a safe alternative to the Euros and making switzerland uncompetitive.


    That's correct they had to print more swiss francs to maintain the same exchange rate with the euro but it doesnt have the problems the euro has with countries having high debt , unemployment and parties in the countries wishing to leave the euro. It will still outperform other currencies when stored up problems in currencies erupt.


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