Canadian dollar tops 80 cents US for 1st time in 2 years

July 24, 2017

Loonie gains almost 10% in 6 weeks, buoyed by strong job market, retail sales and factories ramping up

The Canadian dollar climbed above 80 cents US on Monday morning for the first time since the summer of 2015.

The loonie rose a third of a cent, pushed by strong data on manufacturing sales and a glowing assessment of the country's economic outlook by the International Monetary Fund.

Since bottoming out at the start of May, the dollar has gained nearly 10 per cent through June and July, buoyed by a series of strong data points about the Canadian economy, including a strong job marketbooming retail sales and factories ramping up production.

This was excerpted from the 24 July 2017 edition of CBC News.


Topic(s): 
Canadian Economy & Politics
Information Source: 
Canadian News Channel
Document Type: 
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