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Braniac bean counters please answer - Rather than play a waiting game what would you advise: I have 10 jelly beans in US funds. I only need 1 of those jelly beans to take a few trips this year. Should i put the other 9 into Cdn $ now, or 4.5 of them and hold the remaining 4.5? Less? More? Thanks for opinions ... I know crystal ball, etc. I am thinking convert 3 JBs this week ....
I'm glad I took my American pension in US dollars. I'm moving Cdn. into US ongoing for at least the next year.
At best even the major Canadian banks have been calling for over a year now a flat drop down to 70. cents versus the US.
duh sorry, confused ... so rather than converting your US $ into Cdn and banking the +30% here, you are doing the opposite? Why does this not make sense to me?
He's done it over the past year, so now that it's nearing what I would think is the bottom, he can convert it back and take the gain.
As far as what to do for you, it depends on your risk profile. How much further do you think the floor is? Personally, I think we're pretty close, as in a penny or two. $CDN is tightly hitched to the price of oil so that is where you need to be looking. Oil should be soft for the next nine months or so, providing a full on shooting war doesn't start in the mid-east. As oil climbs, so will $CDN.
aha - OK thanks, yes I agree with you and as well not to get too greedy - be happy with a 30% gain and so transfer a chunk there, then wait a few months and repeat / reassess. cheers
If I did not need those jelly beans for another 3-5 years, I would invest 4.5 jelly beans in Canadian money. I agree that when the price of oil goes up, the Canadian dollar will also rise, but it might take two years for the Canadian dollar to recover. Oil/dollar is not a 1:1 recovery rate.
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