canada dollar
canada dollar

The Canadian dollar continued to straddle parity with the U.S. currency Wednesday.

Shortly after 10 am E.T., the loonie was trading at 99.97 cents U.S., up .09 of a cent from Tuesday’s close.

It rose as high as 100.03 cents US earlier Wednesday, a day after it moved above parity with the greenback for the first time since July 2008.

The dollar’s move up came the same day a global forecasting group called for Canada’s economy to grow more than others in the G7 over the first six months of this year.

The Paris-based Organization for Economic Development and Co-operation is forecasting that Canada’s economy grew 6.2 per cent in the first quarter, well ahead of the 1.9 per cent overall growth for the G7 nations.

It predicted second-quarter growth will be about 4.5 per cent, nearly double the 2.3 per cent growth expected by the combined G7.

The organization says that growth in leading rich economies will slow in the first half of this year, with the United States and Japan outpacing sluggish Europe.

Take our FREE Online Assessment Today!


Socialize with Abrams & Krochak