scatterbrain
Senior Member
- Joined
- Dec 2, 2011
- Messages
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I live in Canada. Most of the items I would like to buy (from Styleforum Affiliates) are denominated in other currencies. The recent change in the Canada to US exchange rate has made the shoes I want to buy from US vendors, for example, around 20% more expensive than they were in mid-2014.
Ultimately, I am trying to determine some efficient method of knowing when is a good time to buy foreign products. I figure there are lots of economists/bankers/etc. on the board so I thought I'd see if anyone else considers this when making purchases, and could direct me to efficient tools that would help with this.
As far as I know, my odds of being hit with duties/tarrifs remain constant, so they can be disregarded for purposes of this exercise.
I am looking for some way to gauge whether my home currency is strong or whether the currency in the place I'm buying from is weak.
So, in my $US example, did the $CDN to $US rates go to hell (from my perspective) over the last six months because the Canadian dollar is falling generally against all other currencies (in which case I should defer all foreign purchases, and buy locally made suits), or did the exchange rate go to hell because the $US increased in value (in which case, I should just defer US purchases, and buy stuff from affilliates who sell in non-US currencies like Vanda or Malford of London).
Ideally, I would have some measure of
So, my questions for the board are:
On a related point, is there an efficient way to tell when wool is expensive, vs leather, vs cashmere, etc.
Ultimately, I am trying to determine some efficient method of knowing when is a good time to buy foreign products. I figure there are lots of economists/bankers/etc. on the board so I thought I'd see if anyone else considers this when making purchases, and could direct me to efficient tools that would help with this.
As far as I know, my odds of being hit with duties/tarrifs remain constant, so they can be disregarded for purposes of this exercise.
I am looking for some way to gauge whether my home currency is strong or whether the currency in the place I'm buying from is weak.
So, in my $US example, did the $CDN to $US rates go to hell (from my perspective) over the last six months because the Canadian dollar is falling generally against all other currencies (in which case I should defer all foreign purchases, and buy locally made suits), or did the exchange rate go to hell because the $US increased in value (in which case, I should just defer US purchases, and buy stuff from affilliates who sell in non-US currencies like Vanda or Malford of London).
Ideally, I would have some measure of
- the strength of the Canadian dollar, generally (Maybe CERI? I don't know how to make use of this...);
- the strength of other currencies, generally (Pounds, Euro, US, SGD); and
- snapshots of multiple exchange rates at once.
So, my questions for the board are:
- Is there any point in doing this? I have presumed that over my lifetime, I will be spending enough on clothes that it will be worth it. I am cheap, so I enjoy knowing I'm making the most of my money.
- Does anyone know of tools that enable me to do 1-3, above, in 15 minutes at the end of a long workday?
On a related point, is there an efficient way to tell when wool is expensive, vs leather, vs cashmere, etc.
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