Impact of present US$ v's EUR rate on visitors to US

Rashers72

Some dollar weakening and euro strengthening has brought US$ to EUR from 1.1096 on Jan 26 back to 1.1475 yesterday. The question is where to now? A short reprieve, or a trend?????

dirkmeister

I'm heading over to the US next month, should I buy now or wait until closer to the time?

Or is it just pure guess work?

Wompa1

dirkmeister wrote: »

I'm heading over to the US next month, should I buy now or wait until closer to the time?

Or is it just pure guess work?

Guess work but based on my guess from being in the US. Things are getting stronger and stronger here. Fuel prices keep falling. The city I'm in is experiencing a bit of a boom. House prices are on the rise.

Looking over at Europe. It looks like Ireland is gaining again but some of the other countries may be dragging the euro down. I'd guess the euro will have a slower recovery, so it might be worth waiting..But that's just my own guess...

MarkY91

The euro dropped again. Couldnt of chosen a worse time to visit the US (late june)

househero

MadsL wrote: »

Really bad timing for me as I am trying to expatriate a pension in the region of $20k.

Sigh. Lost $1500 in about 2 months.

Wait until it goes back up. 1.30 1.40 is a typical range. Unless ur gnna pop ur clogs anytime soon or desperate for $

househero

Wompa1 wrote: »

It could be great for me. I've been saving like a mad yoke since I got here. I'd love to buy a home in the next 2-3 years. If it keeps up, Ireland might actually be affordable for me!

It won't keep up. And if you can't afford now when prices are so low?!?

MarkY91

househero wrote: »

Wait until it goes back up. 1.30 1.40 is a typical range. Unless ur gnna pop ur clogs anytime soon or desperate for $

but it wont go back up. im no expert or anything in this field but most places i visit online are either doom and gloomy about the euro or even go as far to say the euro and dollar will be on parity by the end of the year

i just hope its a little higher by june when i plan on changing the 2nd half of my money..i changed money in january and the credit union gave me a rate of 1.09

do you reckon it will take a u-turn before june?

Rashers72

househero wrote: »

Wait until it goes back up. 1.30 1.40 is a typical range. Unless ur gnna pop ur clogs anytime soon or desperate for $

Show me any financial institution or media outlet supporting that prediction within the next 1-2 years? Most are predicting parity by year end. The only difference is the Euro weakness is bringing us there a lot quicker then expected. Great news for our exporters and visitors from US.

endofrainbow

Just back from the States and must admit I did find it more expensive. Last September the rate was 1.38 and 2 weeks ago it was 1.12. Quite a difference.. It's still cheaper than here and I would only reconsider traveling if it dropped below 1.00.

MarkY91

getting worse by the day for fellow holiday makers to the states

Rashers72

http://www.fxcentre.com/news.asp?3267298

MarkY91

Rashers72 wrote: »

http://www.fxcentre.com/news.asp?3267298

im not sure after reading that wether it was bad or good news

Rashers72

MarkY91 wrote: »

im not sure after reading that wether it was bad or good news

Heard an economist on Newstalk this morning who reinforced how everyone has been caught about by the speed of the rate changes. His recommendation to Irish holiday makers going to the US was buy now. He reckoned it will go to parity within a few weeks and keep going towards .98 cent. He did not give predictions beyond that.

MarkY91

the euro went up to 1.06 today..i wonder what the post office will be offering? too bad its paddys day tomorrow as i would have cashed in and took anything i could before the inevidable parity and below.

dirkmeister

I bought dollars today in the bank. (more fool me)

$500 FOR €495

MarkY91

It really puts a dampener on your holiday, doesn't it

dirkmeister

MarkY91 wrote: »

It really puts a dampener on your holiday, doesn't it

It's a bit of a pain but in the great scheme of things I'm not going to let something like exchange rates put a downer on my holiday.

I'm going to buy another $500 worth ASAP though.

boreder

This time last year I was getting 1.39 on my debit card over there. Crazy.

MarkY91

dirkmeister wrote: »

It's a bit of a pain but in the great scheme of things I'm not going to let something like exchange rates put a downer on my holiday.

I'm going to buy another $500 worth ASAP though.

Great point. Sure I'm gonna take cesars palace for all its worth on the blackjack tables anyway

jaymcg91

On the plus side, at least the dollar has crept back up to $1.10 for €1.

Bloomberg reckons that the rise is over for it, and it'll slowly start to come back down. Provided Greece don't leave the Eurozone in the immediate future .

5starpool

Bought the spending money for my honeymoon in July the other day when it was just over 1.09 (and got that rate too as I have a staff account at a bank) so at least I don't have to worry about further deterioration in the rate anyhow. I got a good chunk of CAD as well. While the staff rate thing saved me around 100 quid in total, it was still depressing how expensive it was compared to previous times I have gone there. I remember in July 2008 when it was around 1.60!

While that was obviously a stupidly good rate, I hope that this will in a year or so at least balance out around 1.25 long term when hopefully both economies are somewhat on a normal track. Wishful thinking maybe that the eurozone might be a bit better by then, but hey, one can hope I guess.

MarkY91

5starpool wrote: »

Bought the spending money for my honeymoon in July the other day when it was just over 1.09 (and got that rate too as I have a staff account at a bank) so at least I don't have to worry about further deterioration in the rate anyhow. I got a good chunk of CAD as well. While the staff rate thing saved me around 100 quid in total, it was still depressing how expensive it was compared to previous times I have gone there. I remember in July 2008 when it was around 1.60!

While that was obviously a stupidly good rate, I hope that this will in a year or so at least balance out around 1.25 long term when hopefully both economies are somewhat on a normal track. Wishful thinking maybe that the eurozone might be a bit better by then, but hey, one can hope I guess.

Alright there my new bff with the staff rate! Lol

oneofakind32

5starpool wrote: »

While that was obviously a stupidly good rate, I hope that this will in a year or so at least balance out around 1.25 long term when hopefully both economies are somewhat on a normal track. Wishful thinking maybe that the eurozone might be a bit better by then, but hey, one can hope I guess.

Wishful thinking indeed. Parity will be new normal for the next 2 or 3 years at least I'd say.

FISMA

MadsL wrote: »

Really bad timing for me as I am trying to expatriate a pension in the region of $20k.

Sigh. Lost $1500 in about 2 months.

Can you sit on the cash?

Not sure what to say. I am all in dollars for the time being. Got out of euros last time I was home. Although, it was not as much as you have.

Right now it is the EU's turn to devalue. You also have the Greek uncertainty. Wait until the next round of "talks" come around and we're sure to be at parity.

I also think it is about time for the US stock market to take a breath, as artificial as it may be. Bull market since the crash? Record highs and runs?

Time for a correction in the US. 10% would be a nice test of the low. That might help you out.

oneofakind32

Just bought 300EUR for $340 from my bank here in New York. The house always wins.

Rashers72

Projections for USD for next few months: http://www.fxcentre.com/monthly/201504_ExchangeRateMonthly.pdf

MarkY91

Rashers72 wrote: »

Projections for USD for next few months: http://www.fxcentre.com/monthly/201504_ExchangeRateMonthly.pdf

so the euro/dollar is predicted to continue its descent. any change in opinion seeing as the euro is at 1.10 today? could it rise again in the next few weeks?

i ask as im looking to buy some dollars for a holiday and last time i did so, the euro rose the coming days after. should i buy now or wait?

endofrainbow

MarkY91 wrote: »

so the euro/dollar is predicted to continue its descent. any change in opinion seeing as the euro is at 1.10 today? could it rise again in the next few weeks?

i ask as im looking to buy some dollars for a holiday and last time i did so, the euro rose the coming days after. should i buy now or wait?

unless someone has a crystal ball , it's impossible to tell.

iusedtoknow

MarkY91 wrote: »

so the euro/dollar is predicted to continue its descent. any change in opinion seeing as the euro is at 1.10 today? could it rise again in the next few weeks?

i ask as im looking to buy some dollars for a holiday and last time i did so, the euro rose the coming days after. should i buy now or wait?

There is no way to tell - you can only buy with a rate you're happy enough with and then forget about it - sufficed to say it isn't going to climb 20c in the next few months, but TBH unless you are thinking about changing 10K, it is going to be a case of losing a couple of $100...and if that makes or breaks your vacation then you may need to take a look at your vacation.

The reality with fx is that you win some and you lose some. the euro has won some in previous years, and now it's and currency's turn.

MarkY91

It certainly isn't making or breaking my holiday but I doubt any normal person could just say "sure its just €400. No bother" I'll just take the rate as it is then. Thanks