Excerpt from: Forex Forecast
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| March 11, 2010 | | Canadian dollar looks to move toward parity in currency trading | The outlook for USD/CAD is slightly bearish right now, with the Canadian dollar possibly eying parity in currency trading on the FX market.
Indeed, the Canadian economy was never in as bad of shape as the U.S. economy during the recession, and the fact that global recovery in general is picking up steam -- and commodity prices in general are trending higher -- is helping the loonie in forex trading.
However, there is still a ways to go before the Canadian dollar reaches parity with the U.S. dollar. However, some believe that if the loonie can break through the 1.02 level, it will make it a little easier to get down to that USD/CAD 1.00 level that indicates parity in currency trading.
| Topic Tags: Canadian dollar, currency trading, forex trading, FX market, parity, U.S. dollar, USD/CAD | |
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