 Poster: A snowHead
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Shock, horror, gasp, currency rates fluctuate !!! 
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Hmm?
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| The pound slid to $1.6453 as of 1:37 p.m. in London, from $1.6478 yesterday and traded at $1.6392 earlier, the lowest level this month. |
So it fell $0.0025. I appreciate that English is not your native language, but if you think that is a 'nose dive' you might want to look up references to English idiom. 
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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None of this would of mattered if we had joined the euro at the same time as everyone else! If we joined back in 1999, €5.50 might have not have seem as being expensive as it acutally is for a Pint!
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stanton, you really are a cheery wee soul aren't you
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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| Gilberts Fridge wrote: |
| stanton, you really are a cheery wee soul aren't you |
I am just giving a heads up for you guys to exchange money now (like right now) at a good rate before Sterling sinks.
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stanton, Oooo! You are luverly! 
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| daveg481 wrote: |
| None of this would of mattered if we had joined the euro at the same time as everyone else! If we joined back in 1999, €5.50 might have not have seem as being expensive as it acutally is for a Pint! |
Hey.. I pay ~€2.60 for a pint. €3.00 if you're pushing it.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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andyph, the Euro might have a little bounce back given this:
http://news.bbc.co.uk/1/hi/business/8198766.stm
France and Germany out of recession. Eurozone still in recession, but that's two big hitters performing well for the currency.
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Today the pound dropped to 6-week lows against the US dollar and 10-week lows against the euro
Oh Dear 
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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Quite liking the Chf atm.... don't care about the Euro unless I head into Italy
Anyway..could be a whole new ballgame in 2010
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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Wayne, excellent news. The low price of the £ has created business for my employer, and so helped keeping me working.
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I hate being right.
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You know it makes sense.
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paulio, I hate being left.
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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paulio, I love the way economists and financial analysts claim to be right .... not difficult when they havent actually forecast anything specific in the first place.
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Poster: A snowHead
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achilles, paulio, I just hate being late for dinner. 
Agenterre, I think the cliche is 20/20 hindsight.
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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| achilles wrote: |
| The low price of the £ has created business for my employer, and so helped keeping me working. |
but it's killing the european ski market for UK tourists
But, hey ho, I get paid in euros when in italy so the beer will cost the same whatever it does
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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..............
Last edited by Well, the person's real but it's just a made up name, see? on Wed 30-09-09 0:42; edited 1 time in total
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Some charge what the market won't stand. There seems to be a calculation in place in a number of bars and restaurants along the lines of:
"Right, last year I had a hundred punters a night buying an average two beers at 5 Euros a pop. This season I can expect 75 buying an average of one and a half so clearly I need to charge 9 Euros a time."
Crazy fools.... Unfortunately some will only cotton on to the folly of this approach when they have one deranged rich loner sitting at their bar and realise that the odds of extracting 1,000 Euros out of even him for a demi are looking poor.
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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1.137 atm! Looks certain to be staying around the 1.10-1.20 mark for the forseeable future..
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Anyone read the report in the Telegraph today? Even for a Eurosceptic and anti-foreigner paper like that this makes shocking reading for those in receipt of monies in the UK and having to spend their hard-earned pennies in Europe.
http://www.telegraph.co.uk/finance/currency/6207852/Pound-will-fall-to-parity-with-euro.html
My UK pension has now lost over a third of its value since this time last year, plus my bloody bank is charging me more for the pleasure of using any ATM.
And people ask why I still work - I've no bloody choice! At least my salary here amounts to a wee bit more. But hey-ho when I can afford a trip back to Blighty at least I'll get more for my money (not!)
Sue
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Samerberg Sue, not much option but to grin and bear it. Less lunches on the mountain again next winter though, particularly if we have our sons with us.
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| Quote: |
I am just giving a heads up for you guys to exchange money now (like right now) at a good rate before Sterling sinks
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Stanton was right. Not hindsight, either.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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Who knows what it will do. Since it stared in 95, the Euro has been all over the place.
*These are not the tourists’ rates; they are the rates that have been on offer to bulk buyers at .5% below interbank.
Figures are minus 1, so 1.5 is shown as .5, etc.
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US dollar rate not too bad though... better than last season - if worse than the season before.
One of the weeks I have booked in Europe this winter is half-board, and I suspect that the S6BB will be too. In fact one of the places we are staying in the US is half-board with an upfront statement of how much they will charge in lieu of service charge/tips. Not sure I would rush to book a European skiing holiday which was not half-board, and I suspect there will be a lot of people buying drinks in and admiring the view from their balcony this season
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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.......
Last edited by snowHeads are a friendly bunch. on Wed 30-09-09 0:44; edited 1 time in total
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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| Wayne wrote: |
Who knows what it will do. Since it stared in 95, the Euro has been all over the place.
[img]http://www.snowMedia |
"fog in channel, continent cut off"
I think you mean the pound has been all over the place.
1:1 would be really bad, it would mean tourist getting something around 95c, still with the Bank of England effectively printing money I guess something has to give. It is going to cause some problems on the bond market though I would have thought and feed through to domestic inflation. At that point the bank may have no option but to raise interest rates which will screw all the people who were relying on low interest rates to pay their mortgage.
I'm told that all that stops the pound going down the sh1tter today is the markets have priced in a Tory win for this autumn/next year and figure Cameroon will implement the tough medecine needed to at least stabilize the economy. If I were David Cameron I would be thinking of taking a job abroad somewhere, the guy would have to be mad to take over the country in its current state.
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I still wouldn't rule out data from Portugal, Italy, Ireland, Greece and Spain having the ability to drag the Euro down a bit over the next 9 months ... although that may just be wishfull thinking!
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You know it makes sense.
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ctskifam, Hopefully before Xmas 
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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Poster: A snowHead
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| ctskifam wrote: |
| I still wouldn't rule out data from Portugal, Italy, Ireland, Greece and Spain having the ability to drag the Euro down a bit over the next 9 months ... although that may just be wishfull thinking! |
Hope not. The present exchange rate has been good for business, and for the stock market (and so my investments, and a lot of sH pension plans). OK, for 3 specific weeks in the winter I might be self-intersted enough to hope for a Euro drop.
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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| Quote: |
Since it stared in 95, the Euro has been all over the place
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well since it actually existed in coin and paper form, and started being used, in 2002 the general trend has been very strong against the pound.
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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achilles, good enough that skiers are happy to pay 30% more for their winter holiday than 3 or 4 years ago...?
I don't buy the argument that it is good for business (obviously from a position of huge bias as I run a business where 60%+ of my outgoings are in Euros). If global investors saw the UK and it's constituent businesses as a good investment the currency would be stronger. Yes the markets are looking a bit better - but still on the basis of low numbers of trades and there is a lot of volatility/instability.
Hopefully a low pound will spark some investment in the UK and it's remaining exporters will prosper but I'm not holding my breath. What may change that is if interest rates go up - which will cause all kinds of grief in the short term but may not be a bad thing longer term.
However, more than anything I just want to get on with running a ski company and not have to think about it! I may go and have a lie down now .... or just stop following this thread! 
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achilles, make that 3 months in winter and I might agree with you!
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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ctskifam, 30% more on ski holidays is niff naff compared to having job security and good stock market levels. Though unemployment has been bad, it would have been worse with a high pound. Your business may not being doing so well out of the exchange rate - but the company that employs me is - and judging by the stock market, the level is good for UK plc, too (though I have been wondering about trading volume).
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achilles, without wanting to tempt fate we have done well over the last few seasons (partly because my pessimistic view of where the currency could go has proved about right!) but I think a lot of businesses in all kinds of sectors are still struggling - and a lot of people have very real worries about their job security. The stock market is only just beginning to nudge the levels of 12 months ago (which I think was at the time the lowest point since mid 2005).
Maybe it would be fairer to say that if the currency was sitting at around 1.25/1 it would show that the economy was viewed globally as being stronger - rather than it being a desireable thing in itself.
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stanton, we have benefited by sterling not being so much a reserve currency as it was. And it looks like Merv is trying to keep the £ down. Good for him.
ctskifam, of course there is a lot of worry still out there. But there would be despair if the £ was high just so skiers could have cheap holidays.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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achilles, completely agree - I'm not quite that blinkered. £ was (with the benefit of hindsight) clearly overvalued prior to "Le Crunch". I do think that if the UK economy was in better shape it would be sitting higher though.
That's not to say there aren't advantages to it being low @ the mo - although I remain of the opinion that these are being overstated by some commentators. I'm not really that bothered by where it sits, as long as it does sit there for a bit, it's the fluctuations and unpredictability that are the pain in the butt.
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| ctskifam wrote: |
| .....it's the fluctuations and unpredictability that are the pain in the butt. |
Agreed.
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FAQ
s can do en masse to shift the global economic balance? Let's not underestimate our influence 
