CAD question

[koko100]

As a Canadian, I know that CAD rises against the USD when the price of oil goes up and then CAD goes down against the USD when the price of oil goes down.

I currently have an account in USD but I have the option of putting it into GBP.

Does anyone know if CAD moves up and down with the GBP on oil like the USD does? Or does oil not affect the relationship between CAD and GBP?

Hard to know if it is better to keep my account in GBP as opposed to USD. I suspect the price of oil will spike on sanctions and the threat of a strike against Iran and general unrest in the ME. And I know then the valuation of my USD account would be a lot lower. Just trying to figure if a GBP account would be more stable with eventual conversion to CAD when I withdraw.

 

[Rhody Trader]

Just out of curiosity, why not have your account denominated in CAD?

As for the CAD relationship with GBP, the oil aspect is somewhat muted by the fact that oil prices are also a factor in sterling. Overall, the CAD is more impacted by US economic developments than oil prices over the long run in any rate.

 

[deadbroke]

As a Canadian, I know that CAD rises against the USD when the price of oil goes up and then CAD goes down against the USD when the price of oil goes down.

I currently have an account in USD but I have the option of putting it into GBP.

Does anyone know if CAD moves up and down with the GBP on oil like the USD does? Or does oil not affect the relationship between CAD and GBP?

Hard to know if it is better to keep my account in GBP as opposed to USD. I suspect the price of oil will spike on sanctions and the threat of a strike against Iran and general unrest in the ME. And I know then the valuation of my USD account would be a lot lower. Just trying to figure if a GBP account would be more stable with eventual conversion to CAD when I withdraw.

If you had a choice between God (= Price) and T2W (clowns) to ask your question, who has the odds of giving you a better answer?

If you answered "the latter" ..... then goodluck, your fate is sealed.

if you answered "the former" ..... then in reality you need to ask nobody nothin, just answer the following questions to THYSELF and the answer becomes obvious in 10 seconds or less

What is the weekly\monthly trend of GBPCAD?
What is the weekly\monthly trend of GBPUSD?
What is the weekly\monthly trend of USDCAD?

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Lambs to the slaughter arrive by the truckload day in and day out and the charade continues.