The Canadian dollar reached (and passed) parity with its American cousin today. The US dollar is now back up above the Loonie, but at one point this afternoon, it was trading for $0.9993 Canadian. This is the first time in over thirty years that we've had parity across the border.
On the one hand, it's nice to see the "Canadian peso" so strong, but I'm anxious to see just what this means for Canada in the next few years.
In the meantime, I'll just really enjoy our trip to Michigan in October.
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2 comments:
This is the first time in my lifetime that the CAD was at parity with the USD...
I too look forward to taking advantage of the shopping opportunities south of the border... I'm just worried about the possibility of a collapse of the (US) dollar and what that might do to Canadian financial markets...
Any thoughts? Canada seems somewhat insulated from the financial tumult beyond our borders, and the Canadian economy seems strong, but in the era of globalization no national economy is completely insulated...
(Btw great blog... just discovered it recently!)
I have really mixed feelings about this.
Seeing the dollar so high after so many years (almost my entire life) feels good, even if it has as much to do with a weak US dollar as a strong Loonie. I can't believe, though, that we'll be untouched by the changes in the US economy.
It will certainly be interesting to see what happens in the coming months.
Thanks for reading!
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