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Old 10-12-2009, 10:01 PM   #1
HappyCappy
 
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sticker/magnet Canadian Loonie almost at Par with USA

http://www.660news.com/more.jsp?cont...2_182714_10160

It's shaping up to be an exciting week on the markets!
While we laid dormant for the long weekend, the loonie continues to charge ahead on the way to parity with the U.S. dollar. The Canadian dollar was trading close to 97 cents U.S. Monday.
Down south, the Dow Jones made strong gains reaching a year high of 9,931 points before closing down a bit at 9,885 points Monday afternoon.
Some think the TSX will follow suit Tuesday.
ATB Financial economist Todd Hirsch tells 660News that whenever Canada has a holiday we usually pick up where U.S. markets left off meaning the TSX could be in for a nice run this week, if commodities prices don't falter.
The Canuck buck is looking good compared to the lowly 84 cents it was sitting at this time last year. Hirsch says the loonie could strike even with the greenback or even higher this week.
The Canadian dollar should also be in good shape throughout the holiday season, which means we could see a lot of cross-border and online holiday shopping this Christmas season
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