forget it, it will drive you nuts trying to predict. The fed could step in with something out of left field or the plummet could continue. I vote.............out of this currency.
I also want out of this currency but I'm debating whether to convert now (aussie dollar, yen) or wait for the dollar bounce and convert at that point.
Good idea, I'd like to find a home for my money though. Might convert to AUD and invest in their markets, also might create a basket of different currencies (AUD, YEN, CAD, etc.) Just want to do it at the right time.
Unfortunately, on this one I have no gut feel at all... any more than I have a gut feel on the S&P at the moment, because they are related. Both of those could go either way into the end of the year. I actually tend to not make predictions that last more than a few days in most cases... longer term stuff is a lot harder to predict in such a manipulated environment. As for trading, I only trade what is going to happen over the course of the next few minutes... it really saves me a lot of headaches because I never have to worry about stuff like this.
Gotcha, but I don't think one can trade against one's base currency and survive over the long term. IMO, and this is just my opinion, it's more prudent to find a safe haven to protect against the fall of the USD and just forget it. Monitor where you put those converted dollars of course but I don't want to have to worry about the continual fluctuations in exchange rates.
be careful I lost my faith in USD and converted everything in my trading account into CAD 2 years ago when it was 1:1 when it went to 0.9 and I thought I was so right to move from USD but then it went to 1.3 from 1 in just 1 month I'm still in CAD. But I lost my faith in them too. Peak oil is not so real and canadian government is corrupt I think it will stop at 1:1 again so now I just sell calls every month for Cad futures to go short at 1:1
1:1 is likely by year end. Not sure why you think the Canadian government is corrupt though? (any more than any other government that is). Government has stated they want USD/CAD to appreciate, but will not intervene should that not be the case. Short USD/CAD doesn't look like too bad of a play right now.
I mean in my opinion they are on the same level as US ANd I don't really see how with 70$ oil C$ could be higher than 1:1 Government runs huge deficits, bank of Canada constantly wants to start QE in the same time real estate bubble currently probably worse than in US and will probably pop in 1-2 years and canadian government explicitly guaranties majority of loans and by the way current head of Bank of Canada - former goldman employee which doesn't give any optimism either