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Discussion Starter #1
Is there any way a Canadian can bet against the Euro? Maybe I'm just too late...

Jan. 4, 2010: 1 Euro = 1.50 Canadian dollars
May 14, 2010: 1 Euro = 1.27 Canadian dollars

That's -15%

... but if this continues, it may not be too late to bet against the Euro but how?
 

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For the trader's perspective, you can always play it thru forex (EUR/CAD pair).
Also, you can short FXE (Currencyshares Euro Trust).

:)
 

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Discussion Starter #3
Thanks for the answer.

I don't own any Euros now but I do own Canadian dollars. How can I bet against the Euro through forex? If I thought the value of the Euro was going up, I could buy some now and then sell when it's worth more... Now I think it will be worth less in the future, so what should I buy?

As for FXE, it is on the NYSE. If the value of the Euro falls, the value of the USD will go up. If I have to convert my Canadian dollars to American dollars to bet against the Euro, any gain I will make will be cancelled by the increase in value of the American currency.

I was looking for a way for Canadians to bet against the Euro. I don't think that there is one.
 

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Euro betting

Check out ULE and EUO tickers.

I think this is what you are looking for although you still have to convert CDN to USD.

Good Luck.
 

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I don't own any Euros now but I do own Canadian dollars. How can I bet against the Euro through forex? If I thought the value of the Euro was going up, I could buy some now and then sell when it's worth more... Now I think it will be worth less in the future, so what should I buy?

I was looking for a way for Canadians to bet against the Euro. I don't think that there is one.
Yes, open a ForEx trading account at a discount trader like FXDD.
Fund your account in CAD (they'll convert to USD).
Then put in your buy/sell trades for CADEUR pair.
 

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stop that harold.
you are just egging the lamb on to slaughter.

easter's over, besides it was better when you stuck to creatures your own size.
like derek foster & other finance writers promoting their books in libraries.
 

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I agree with humble_pie. Forex trading is a tough place to make some profits. It is true that the Euro has tumbled and hindsight being 20/20 and all, it seems obvious that betting against the Euro would have landed handsome profits. But it's one thing to see that prices have dropped in the recent past, quite another to bet that prices will fall in the near future.
 

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HP & CC are correct.
I should have put a disclaimer in my response.
My post was an answer to a question, not a recommendation for ForEx trading.

Another option is to open an EUR and CAD account at a bank and transfer funds back and forth to take advantage of currency fluctuations.
HSBC offers all kinds of foreign currency accounts.
http://www.hsbc.ca/1/2/en/personal/chequing-savings/savings-accounts/foreign-currency

You could buy EUR, transfer into the CAD account and later transfer back.

Again, this is an option, not a recommendation for any trading strategy.

If the OP is itching to play forex, this is probably safer than ForEx trading.
 

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Discussion Starter #9
You could buy EUR, transfer into the CAD account and later transfer back.
I don't understand.

I have 10000 $CDN. I buy Euros. I get around 7800 Euros.

Then I transfer this to a CAD account? So I transfer my 7800 Euros back into Canadian dollars? So I get around $10000. Already, this doesn't make sense.

Then when the Euro is worth less in the future, I transfer it back into Euros? So I get more Euros per Canadian dollar. Now I need to convert this back to Canadian dollars. So how does that make a profit?
 

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I was looking for a way for Canadians to bet against the Euro. I don't think that there is one.
:confused:

I don't own any Euros now but I do own Canadian dollars. How can I bet against the Euro through forex? If I thought the value of the Euro was going up, I could buy some now and then sell when it's worth more... Now I think it will be worth less in the future, so what should I buy?
You short(sell) the EUR/CAD pair. There are lots info out there on forex if you google.

As for FXE, it is on the NYSE. If the value of the Euro falls, the value of the USD will go up. If I have to convert my Canadian dollars to American dollars to bet against the Euro, any gain I will make will be cancelled by the increase in value of the American currency.
Then the question becomes how well USD performs against CAD. Increase in USD doesn't necessarily mean falling in CAD. If you believe that CAD will be in par with USD for sometime, then there wouldn't be much change even if EUR continues to fall. Buying anything in USD base, you will always be exposed to the CAD/USD fluctuation. If it worries you, then you could always put on another trade with FXC.

Like what others said, I'm not trying to encourage others to trade currencies. Just answering your specific questions.
 
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