Important update: Loonie closes above parity

Let’s take a break from discussing the 5 Steps to Financial Freedom and take a look at an important news about the Canadian dollar.

According to several financial news sources as of April 14, the Canadian dollar closed above parity with the US dollar for the first time since May 2008, finishing at more than a quarter cent to 100.08 cents US. Backed by Canada’s slow economic recovery and confidence on Canada’s effective debt management, the Canadian dollar has looked more attractive to global investors when compared to the US dollar and Euro.

Economists don’t expect the loonie to go any higher against the US dollar but expect it to stay around parity for the next while.

Read more about the loonie –

http://www.financialpost.com/most-popular/story.html?id=2905269

We'll see what happens. Experts are saying that it may not go higher, but who knows!

We’ll get back to covering the 5 steps tomorrow!