Our dollar just dropped 3 cents to the American in 2 days. I have the option of writing a certified check today in american funds and for 56,000 I expected a bounce today but the dollar kept falling. Helps the grain prices but new machinery payment is higher, by a lot. Crap we can borrow 100 grand these days for only just over 3 percent a year.
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Actually the loonie is up a penny on the futures. I would do some checking on when you currency was established and perhaps their risk premium/fudge factor on however you are doing your currency conversion. -
Actually when they did the conversion will have a big impact as well. A 1.5 cent spread futures between daily high low.Comment
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must have been standing on my head today, down 2 cents yesterday up 1 today so it did bounce back, bigger question is why such a drop yesterday. Actually have the option of writing the certified check in american funds today or wait a week and do it on delivery. Just a bit shocked at a 2 percent drop. A thousand dollars here and there is not really a big deal when trying to get the crop off.Comment
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Suspect a bit the fact the Bank of Canada highlighting the fact the higher valued Canadian dollar is hurting the economy but more important perhaps is the normal ebb and flow of the market in these volatile uncertain times. Others will deal with the issue better than I will but note the overall move higher in commodities in the last couple of days. Some influence declining US dollar. See what other comments people have.Comment
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Hopperbin-who are you using to exchange the money. Usually save a percent by going thru Custom House in Stoon as apposed to using a bank to exchange the funds. Rate will be current as well.Comment
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Hopper-what do the flowers smell like on the moon?Comment
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Cause you smell like sh....Comment
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Curious response.
So if you were making a USD $50,000 purchase in the next weeks, when would
do your currency conversion?
If were a Canadian exporting company with $10 mln of currency exposure in the
US market over the next 6 months, would you be fully hedged? What tool would
you use?Comment
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Over a short period of time you might as well throw a dart, hedge today or 3 weeks from now, no currency trader would ever advise waiting over such a short period. It is anybodis guess.
If you are happy with the rate you might as well book it.Comment
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