Tuesday, October 30, 2007

Loonie At A 33 Year Peak

"Canada's dollar touched the highest since 1974 on surging demand for the nation's commodity exports, with oil reaching an all-time high.

The Canadian currency strengthened as the U.S. dollar fell against 11 of 16 most-actively traded currencies. The Federal Reserve is forecast to cut borrowing costs on Oct. 31 to prevent the world's largest economy from slipping into a recession, which would eliminate the U.S.'s interest-rate advantage over Canada."

Read Full Article

One U.S dollar buys 96.02 Canadian cents. Look out for the snowbirds!

No comments: