Discussion in 'Finance, Property, Law' started by ulsterman82, May 23, 2013.
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Canada's good, at present. It all depends what you want to unvest it in. Are you thinking of going into business? Do you want an income from it? Capital growth?
Like most governments the Canadian one's pretty amateurish, that said the country, and Alberta in particular, is very wealthy.
When I first went to Canada about 15 years ago I got $2.10 to the pound.
Now it's around $1.50, thanks to the incompetent twats who run this country, effectively sterling has been devalued by nearly 30%
Get into Canadian dollars before sterling plummets some more.......
GBPCAD has traded in a range of 1.52 to 1.64 since 2010 and there are no signs of it going anywhere else at the moment. It is climbing towards the top of the range, as CAD is weakening against US$ faster than Sterling.
Canada's economy is very correlated to the price of oil and they rely heavily on the flow of gas and oil to the USA. With the rapid expansion of fracking in the USA, their primary market for fuels is being squeezed. Growth is pretty weak and particularly reliant on US growth.
I'd make the decision slowly and put it where you can get the best interest return. Maybe look at US$; that is where the strength is at the moment.
Send it all to me....I have this bridge for sale.
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The C$ is likely to stay pretty stable versus £, it's a commodity based economy but doesn't attract "carry" capital like the A$ because the interest rate basis is low. The forwards say it'll move +/- 5% in next 18 months. You'd pay more than that in crossing the bid/offer spread to trade into C$.
Asid from the real mood swings as in 2008 the CD drifts up and down in a steady range roughly in line with crude oil, the same can be said of the GBP but more so influenced by the world economy rather than a specific commodity. So long as you watch the currency markets each is a much of a muchness. Good luck and at least you are sensibly trying to invest instead of listening to media pundits.
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