Location: God's own country
Posted on: 20-08-07 15:24:07
IMHO,
CAD is better than USD in the short term.
The housing bubble in the US has started bursting with the sub prime fiasco and excessive inventory. I belive that US $ will stay low for atleast 2 or 3 years.
OTOH, People are still betting on commodites and oil is going to be in the 60's for sure.
Euro is the best but the next best thing is the CAD.
TK A
Mainnote : Welcome back, Chandreshji- after a long break. Hope we get many more meaningful postings from you.
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I am a Gents and not a Ladies.
Quote:
Originally posted by tamilkuravan
IMHO,
CAD is better than USD in the short term.
The housing bubble in the US has started bursting with the sub prime fiasco and excessive inventory. I belive that US $ will stay low for atleast 2 or 3 years.
OTOH, People are still betting on commodites and oil is going to be in the 60's for sure.
Euro is the best but the next best thing is the CAD.
TK A
Mainnote : Welcome back, Chandreshji- after a long break. Hope we get many more meaningful postings from you.
Can you please let us know how does the US housing market and the oil/commodities prices relate to the cdn $ as a favourable choice as opposed to the US $$? Do you mean that these thing will cause the USD to fall below the cdn $ and hence C$ is better?
Quote:USD below the CAD could be a very bad thing.
Originally posted by cdn_dude
Do you mean that these thing will cause the USD to fall below the cdn $ and hence C$ is better?
It would significantly hurt near-shore outsourcing from the US, as well as travel/tourism.
It will also hurt the education industry in Canada because suddenly even the more expensive, no grant US universities might be cheaper than Canadian univ. for foreign students.
Canadian central bank might panic and start cutting interest rates to boost investment in Canada.
Low interest rates allow banks and FIs to take large risks, which can cause meltdowns similar to the current US one.
Overall a bad thing.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Location: Somewhere in dreamland
Posted on: 20-08-07 16:49:12
Quote:
Originally posted by investpro
Quote:
Originally posted by AshwaniG
I completely agree with Ben BUT still person can win/lose a huge amount during the course of period ..from 1996 I was drawing my salary in US$ and partially in Euro ( as per exchange rate ) ..when I landed in canada CAD was weak so I changed all my US$ in CAD ( 1= 0.60) ..I left my Euro as it is ..
We all know now how Euro has grown in last 5 years ..
So best of luck in what ever you decide ..
Ashwani Goel
Hi Ashwani,
Just for my edification, how were you drawing a salary in Euro in 1996? The Euro just came into being in Jan 1999. I was doing a stint in Europe right up to 1998 and was still being paid in the currency of the country I was in.
Good point
Location: carl sagan's universe
Posted on: 20-08-07 17:05:02
Quote:
Originally posted by chandresh
Quote:
[]
Having lived and worked in 5 countries and done a lot of forex trading, the best thing to do is to receive salary in the currency of the country you stay in - unless that country's currency is either pegged to, or closely follows another major currency like USD.
Not so sure what you mean by this- If you work and live in Dubai or HK, both currencies pegged to the mighty USD- you should opt for another currency to receive your salary in and not in Dirhams or HKD? Perhaps you care to expound?
Location: God's own country
Posted on: 20-08-07 22:56:23
Quote:
Originally posted by cdn_dude
Can you please let us know how does the US housing market and the oil/commodities prices relate to the cdn $ as a favourable choice as opposed to the US $$? Do you mean that these thing will cause the USD to fall below the cdn $ and hence C$ is better?
Canadian Dude,
We all know that US housing market is in tatters and Canadian housing market is good as of now (Except may be Calgary and Vancouver). Once the housing bubble bursts, Interest rates in USA will get lowered. This in turn will will make the CAD more attractive. Of course, Bank of Canada will also lower interest rates but that will take months after the Us fed's lower their rates. Also the US trade defecit is balooning to record highs.
Canada is a king in commodities. Commodity prices is still expected to move up or stay at the same rates in the near term. Also megers and acusations (M&A) in Canada, push up the Canadian dollar.
As I said before, Euro is the best as it depends on the ecomony of Various european countries (all canot be down at the same time) but the next best thing is the cdn. dollar.
hope this helps.
TK A
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I am a Gents and not a Ladies.
VOW How nitpicky we all are and needless to metion that extremely good to point out the mistakes ..
In continuation to my earlier post ( to be more precise now _ )
Worked for a co. from 1996 till 2002 ..Posted in diff countries with S'pore based co. Had always an option to draw salary in any currency I wanted ..
Initially I drew all my salary in USD till Euro came into existence ..( Sorry I dont rememebr exact date and year ) ..But I am sure that people who want to derive conclusion will be able to w/o it ...
Ashwani
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