It is almost hard to believe that a little more than 1 year ago, one Canadian dollar was worth more than one US dollar. The USD/CAD exchange fell to a record low of 90 cents in November 2007, prompting the Canadian edition of Time Magazine to name the Loonie the Newsmaker of the Year.
However since [...]
Canada’s dollar reached the highest in more than 10 months against its U.S. counterpart as greater- than-forecast corporate earnings prompted investors to seek riskier assets such as stocks and commodity-linked currencies.
“Strong gains in equities are driving the Canadian dollar higher,” said Michael [...]
The loonie weakened for the first time in six days as the crude oil price fell, making Canada’s currency to drop from a 6-month high.The Canadian currency has been posting consecutive gains against its North American counterpart since November, and this week negative market prices associated with the loonie, combined with speculations that the government may take measures for [...]
After a bearish previous week, the loonie reached a 6-month high against the dollar as national employers added jobs and optimistic data from the U.S. indicate that the recession may be easing.During this week, the loonie was a fantastic investment for traders, rising more then 2.4 percent against the greenback, reaching a 6-month high. Canada’s currency uptrend is being highly influenced by the growing demand [...]
