Canadian Dollar Bullish on Global Recovery
The Canadian dollar, together with other currencies from commodity producer countries, is profiting from positive estimates for 2010 global economic recovery, which if confirmed will raise demand for Canadian commodities, consequently pushing the loonie up.
The loonie fell in the past few hours after touching the highest rate in 2 months versus the its U.S. counterpart and a record high in 2009 versus the euro as optimism towards the global economy for 2010 remains strong in financial markets, favoring currencies attached to stocks and commodities rates.
EUR/CAD traded at 1.4977 as of 01:48 GMT from a previous rate of 1.5025.
If you want to comment on the Canadian dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.
Earlier News About the Canadian Dollar:
- Canadian Dollar Bullish on Oil Rates, To Gain in 2010 (2009-12-24)
- Canadian Dollar Top Performer on Interest Rates Outlook (2009-12-22)
- Canadian Dollar Bullish on Commodities, Retail Sales (2009-12-21)
- Canadian Dollar Benefits on Iran-Iraq Oil Tensions (2009-12-18)
- Canadian Dollar Rallies Fueled by Oil Performance (2009-12-15)