Making a footnote just in case. Anyone remember Saddam marking the bottom in the Euro? I'm still waiting on that cover shot like BusinessWeek's March '05 issue to give a good bounce but this may be just as good. Supermodel Bundchen Joins Hedge Funds Dumping Dollars "Gisele Bundchen wants to remain the world's richest model and is insisting that she be paid in almost any currency but the U.S. dollar. "
To get matter worst. Some online companies (particular small one) drop the ball on the USD and accept EURO.
Hi. I am a newbie when it comes to trading currencies. The following questions pertian to interbank or spot currency trading - not the futures. 1. On a $100,000 position - if I had shorted the USD vs. the CDN at .9450 and covered the position at .9350, how much would I have made? 2. I hear the currency market is really liquid, but how liquid is the USD/CDN? 3. Assuming "normal" market conditions (i.e., not right after an economic report that moves the mkt, not right after some crazy geopolitical thing hapeens) - how big does a position have to be to move the quote in this market? 10,000,000 ? 50,000,000? More? 4. Over the last year ot two - when an economic report has come out and was way different from expectations, and you were on the wrong side of it, how far did the usd/cnd "gap and run" before you could get out? I'm talking intraday shocks (not overnight stuff) and assume the worse hit you would have taken if you had tried to just get out quickly. Thanks .
1. you would made $1000 2. liquid enough 3. That's depend on the time-frame , but it shouldn't be a problem to trade up to 50M if you are not an scalper. 4. If something came up you can get caught on a 70/100 pips move. 40-60 pips if you have a reliable broker.
These idiots kill me...by the way Convertibility, I am not calling you an idiot...just people in general. first off, she's a model...therefore probably not the smartest kid on the block...secondly, as mentioned earlier...the whole magazine cover indicator is a great way to mark tops and bottoms... As an example, if she earns $500,000 USD a year, even if she gets paid in Euros, they are gonna pay her LESS Euros if they are worth more than USD. In the end she is still going to be paid the same, just maybe more or less of the particular currency, but the money she earns will still be "worth" the same.... *I tried to be slick once and get my former employer to pay me in Bahraini Dinars, since it's appx 2.6 to 1 USD, thereby almost tripling my salary over night...but naah, for some reason it didn't quite work out. *DISCLAIMER I didn't really do that as I was in the military and they frown on asking for payment in Arabian currencies in general, my example was merely to illustrate a point.
I agree with her, if your annual salary is 40k then it wont make a difference, but if it's 3.2 million dollars, then yes it would. She has a contract. Once her job is done, she receives the money. So you are talking about 6-8 months after signing the contract. That much money is not released that easy. So she is half right, but you can't say any currency. You have to study other currencies, and see which one would be more stable.
Oh well, it turns out this story was a little fabricated. http://www.dealbreaker.com/2007/11/breaking_news_most_important_s.php#more Guess more dollar selling is on the way...