Canadian/US Dollar Exchange Rate

MrMxyztplk · #1 10-20-2006, 02:11 PM

Being a Canadian player, the exchange rate is pretty important when cashing out thousands of dollars. I was going to make a cashout soon, but I noticed that Neteller's exchange rate is up from 1USD : 1.08 Can to 1.11 Can.

Should I wait a little longer to let it go up some more? How much higher is it expected to go, if it is indeed going up?

Thanks

gull · #2 10-20-2006, 02:55 PM

Are you a currency trader? Because by waiting, that's what you'd be doing. I say just withdraw the money.

MrMxyztplk · #3 10-20-2006, 04:23 PM

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Are you a currency trader? Because by waiting, that's what you'd be doing. I say just withdraw the money.

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That's not very helpful. Can we try again?

hawk59 · #4 10-20-2006, 04:32 PM

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[ QUOTE ]
Are you a currency trader? Because by waiting, that's what you'd be doing. I say just withdraw the money.

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That's not very helpful. Can we try again?

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He gave you the right answer, nobody on here is a fortune teller.

Big TR · #5 10-20-2006, 06:52 PM

OP, the other two posts here are spot on. Unless you have a sound reason why you think that the USD will get stronger vs. the Canadian $, you should just get your cash today.

All you will get from any other posts are opinions. Some will say the CAN$ gets stronger going forward, others will say CAN$ gets weaker. Posts such as these are the ones that are truly not helpful to you.

maniacut · #6 10-21-2006, 05:15 PM

You shouldn't be in the position to let neteller take you in at a bad rate and also apply their 1.9% currency conversion fee. Solution: deposit what you would like to cashout from neteller into party, register your bank account with party (will take 2-3 days to receive the test deposits), once your bank account is verified with party you can cashout directly from party to your bank account without the 1.9% currency conversion fee and they usually offer a better exchange rate than neteller as well. you can thank me via transfer at pokerstars, my username is Monstore. [img]/images/graemlins/wink.gif[/img]

gonebroke · #7 10-29-2006, 08:04 PM

Unless you are talking about tons of money, you might as well cash out now. I do follow the currency markets and the USD is going down. The inflation rate is a lot higher than the 4% the government wants you to believe. From the economists I follow, it is more close to 10%. Just look at the price of gold for the past 5 years. Gold is a safe haven during times of inflation. I am very long on Gold and Silver and other precious metals. Keep your canadian dollars if you can.

NajdorfDefense · #8 10-31-2006, 06:43 PM

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I do follow the currency markets and the USD is going down. The inflation rate is a lot higher than the 4% the government wants you to believe. From the economists I follow, it is more close to 10%.

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This is ludicrous.

Also, the USD went down, now it is going up. Neither of that is useful for predicting the USD going forward. Prior to going down, it skyrocketed, prior to that, it fell from 1985-1995 approx. ETc.

gonebroke · #9 10-31-2006, 08:07 PM

[ QUOTE ]
[ QUOTE ]
I do follow the currency markets and the USD is going down. The inflation rate is a lot higher than the 4% the government wants you to believe. From the economists I follow, it is more close to 10%.

[/ QUOTE ]

This is ludicrous.

Also, the USD went down, now it is going up. Neither of that is useful for predicting the USD going forward. Prior to going down, it skyrocketed, prior to that, it fell from 1985-1995 approx. ETc.

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You do not think that tracking inflation is useful in determining if the USD will fall? The US Dollar index is near 85 and if it dips below that, who knows how far it will fall. Look at the price of Gold. That is evidence enough that inflation is rampant and the USD is in huge trouble. Look for Gold to exceed 4 digits within 24 months. Keep your greenbacks, I will be in Gold and Swiss Francs.

NajdorfDefense · #10 11-01-2006, 11:40 AM

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I do follow the currency markets and the USD is going down. The inflation rate is a lot higher than the 4% the government wants you to believe. From the economists I follow, it is more close to 10%.

[/ QUOTE ]

This is ludicrous.

Also, the USD went down, now it is going up. Neither of that is useful for predicting the USD going forward. Prior to going down, it skyrocketed, prior to that, it fell from 1985-1995 approx. ETc.

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You do not think that tracking inflation is useful in determining if the USD will fall?

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In a vacuum? No. Things like real interest rates and relative growth rates are far more important - obviously inflation goes into the Real IR equation.