Exchange- just lost a few hundred $ waiting on the New Year- buy or wait?

[Ken07AOVette]

Had I cashed out 2 weeks ago I would be up ~$600, as of today I am down. The North American Dollar is rising.
I am fairly new to this, is it time to buy more Yankee bux or hang tight and wait for a drop?

[skidderman]

If you watch a lot of financial predictions a few say they expect the Cdn dollar to drop to 65 or 70 cents. Their reason's are that the US is becoming stronger and as they do Canada becomes less & less competitive. Then there is the nafta question that likely won't go in our favour. With our current government leader's that seems like a given to me. I sometimes wonder if they are just guessing though.

[Ken07AOVette]

If you watch a lot of financial predictions a few say they expect the Cdn dollar to drop to 65 or 70 cents. Their reason's are that the US is becoming stronger and as they do Canada becomes less & less competitive. Then there is the nafta question that likely won't go in our favour. With our current government leader's that seems like a given to me. I sometimes wonder if they are just guessing though.

That sounds like BUY to me, maybe 20g USD? And quick!

[elkhunter11]

The fact is that since Trump was elected, the US markets are on the rise, because people have confidence in the US. There is no such confidence in Canada, so I expect our dollar to fall.

[Twisted Canuck]

Close to $.80 at the moment, would not be a bad time to buy IMO. I see the CDN$ weakening in the coming year, based on the Tax reforms you see in the USA....and in Canada. Our government is tying an anchor around the necks of businesses, making it harder to compete. The USA economy is running on a very positive note. It should all be very educational, watching what happens in the coming year. I suspect the tax revenue shortfall in Canada will be met with more taxation, as it is working so good at driving investment capital out of the country.

[Arty]

Buy when it's low, sell when it's high:

https://finance.yahoo.com/chart/CAD%3DX#eyJpbnRlcnZhbCI6ImRheSIsInBlcmlvZGljaXR5Ij oxLCJjYW5kbGVXaWR0aCI6MTIuNTU4MTM5NTM0ODgzNzIsInZv bHVtZVVuZGVybGF5Ijp0cnVlLCJhZGoiOnRydWUsImNyb3NzaG FpciI6dHJ1ZSwiY2hhcnRUeXBlIjoibGluZSIsImV4dGVuZGVk IjpmYWxzZSwibWFya2V0U2Vzc2lvbnMiOnt9LCJhZ2dyZWdhdG lvblR5cGUiOiJvaGxjIiwiY2hhcnRTY2FsZSI6ImxpbmVhciIs InBhbmVscyI6eyJjaGFydCI6eyJwZXJjZW50IjoxLCJkaXNwbG F5IjoiQ0FEPVgiLCJjaGFydE5hbWUiOiJjaGFydCIsInRvcCI6 MH19LCJzZXRTcGFuIjp7Im11bHRpcGxpZXIiOjYsImJhc2UiOi Jtb250aCIsInBlcmlvZGljaXR5Ijp7InBlcmlvZCI6MSwiaW50 ZXJ2YWwiOiJkYXkifSwicmFuZ2UiOiI2X00ifSwibGluZVdpZH RoIjoyLCJzdHJpcGVkQmFja2dyb3VkIjp0cnVlLCJldmVudHMi OnRydWUsImNvbG9yIjoiIzAwODFmMiIsInN5bWJvbHMiOlt7In N5bWJvbCI6IkNBRD1YIiwic3ltYm9sT2JqZWN0Ijp7InN5bWJv bCI6IkNBRD1YIn0sInBlcmlvZGljaXR5IjoxLCJpbnRlcnZhbC I6ImRheSIsInRpbWVVbml0IjpudWxsLCJzZXRTcGFuIjp7Im11 bHRpcGxpZXIiOjYsImJhc2UiOiJtb250aCIsInBlcmlvZGljaX R5Ijp7InBlcmlvZCI6MSwiaW50ZXJ2YWwiOiJkYXkifSwicmFu Z2UiOiI2X00ifX1dLCJjdXN0b21SYW5nZSI6bnVsbCwic3R1ZG llcyI6eyJ2b2wgdW5kciI6eyJ0eXBlIjoidm9sIHVuZHIiLCJp bnB1dHMiOnsiaWQiOiJ2b2wgdW5kciIsImRpc3BsYXkiOiJ2b2 wgdW5kciJ9LCJvdXRwdXRzIjp7IlVwIFZvbHVtZSI6IiMwMGIw NjEiLCJEb3duIFZvbHVtZSI6IiNGRjMzM0EifSwicGFuZWwiOi JjaGFydCIsInBhcmFtZXRlcnMiOnsiaGVpZ2h0UGVyY2VudGFn ZSI6MC4yNSwid2lkdGhGYWN0b3IiOjAuNDUsImNoYXJ0TmFtZS I6ImNoYXJ0In19fSwidGltZVVuaXQiOm51bGx9

(yes, that big ugly thing is the complete link)

USD is weakening; by chart it's got downward short-term momentum, and by fundamentals everyone's predicting inflation now from that tax thingy. At least until the Fed gets its arse in gear and causes rates to be hiked more by tapering their bond buying a bit more.

(Inflation = a weaker currency, which is why the Swiss Nat Bank has been deliberately printing money to buy overpriced US stocks by the bucketload. That makes the Swiss export industry more competitive.)

[HoytCRX32]

What really sucks is that the Liberals want the dollar lower as it increases manufacturing jobs in the east...they screamed bloody murder saying Canada couldn't survive a dollar at par with the US. Harper and the Conservatives proved them wrong.

[jstubbs]

Are you doing this as an investment? If so, why? You'd probably see better returns picking ten random stocks than from trying to beat the forex market on USD/CAD exchange...

If you're doing this just to have some USD on hand, carry on.

[Arty]

Are you doing this as an investment? If so, why? You'd probably see better returns picking ten random stocks than from trying to beat the forex market on USD/CAD exchange...

If you're doing this just to have some USD on hand, carry on.

Except for the fact that you should be taking advantage of extreme positions in any asset.

That means, when USD/CAD is at par it is truly a rare thing, and you really should move free cash (if any) to your USD accounts. Likewise, when it's at 1.35 or taller, move free cash all to your CAD accounts. Right now, it's kinda sorta in the middle, but trending down to 1.20. Below 1.15 I'd certainly make the housekeeping move to USD.

In a relatively stable system like USD/CAD exchange, most everything reverts back to the mean at some point, and probably won't keep moving in one direction until the boat tips over. (Unlike the Bolivar and whatever passes for currency in ex-Rhodesia now). When it swings back after you've taken a position, it becomes a gift, so take it!

You have total margin available for trades calculated across all non-registered accounts, not just one or the other.

[Ken07AOVette]

Are you doing this as an investment? If so, why? You'd probably see better returns picking ten random stocks than from trying to beat the forex market on USD/CAD exchange...

If you're doing this just to have some USD on hand, carry on.

Just travel money for going into the States.

[wwbirds]

Balked on the second portion of the account set up when they wanted pictures of my bank account (not balance) and copy of my drivers license or passport. guess I am not a very trusting old fart but I am not going to make it easy for anyone to engage in identity theft by handing the information over the internet.

[Big Thumper]

Are you doing this as an investment? If so, why? You'd probably see better returns picking ten random stocks than from trying to beat the forex market on USD/CAD exchange...

If you're doing this just to have some USD on hand, carry on.

Forex is a sum zero game. Hard to be on the winning side enough to make it pay when speculating. Especially when much of the competition is well informed. (Not to imply this is why the OP is doing this)

[Arty]

Balked on the second portion of the account set up when they wanted pictures of my bank account (not balance) and copy of my drivers license or passport. guess I am not a very trusting old fart but I am not going to make it easy for anyone to engage in identity theft by handing the information over the internet.

Identity theft ain't the main problem.

It's the fact that federal revenue departments of every major country will want you to pay up for any profits based on cryto-currencies (even though they strongly deny those are currencies at all).

So the exchanges are going to great lengths to ensure they don't wind up with THEIR asses in a sling. They will sell you and all your identity info out to the gub'mint at the drop of a hat. That's why it's such a dumb idea to use your hard-earned after-tax savings to speculate in crypto-currencies, especially for small amounts.

[79ford]

Close to $.80 at the moment, would not be a bad time to buy IMO. I see the CDN$ weakening in the coming year, based on the Tax reforms you see in the USA....and in Canada. Our government is tying an anchor around the necks of businesses, making it harder to compete. The USA economy is running on a very positive note. It should all be very educational, watching what happens in the coming year. I suspect the tax revenue shortfall in Canada will be met with more taxation, as it is working so good at driving investment capital out of the country.



Canada has been clocking in(annualized) 3-4+% gdp reports while trump just handed out tax cuts that will cost some 1.7 trillion dollars per year or something obscene. The united states will run over a trillion dollar deficit every year for the forseeable future now which is like canada running a 100+ billion dollar budget deficit ........every year

Us corporate taxes are atill higher than canadian taxes too. I think Trump is on debt ceiling raise number two in less than six months..... they had to raise the debt ceiling to fund the hurricane relief and that money has run out already now they are looking to add trillions more in debt to pay for tax cuts that havent been offset.