The Canadian Dollar continues it's strength versus ours and that is continuing to feed the NNY retail economy. Sales tax numbers continue to reflect the Loonie surge. Otherwise the national recession and frequent deployments would suggest a less robust picture.
Canadian currency strength is largely due to their resource-based economy with extensive oil and mining operations giving true value to their economy in otherwise iffy times.
Loonie breaches parity with U.S. dollar again
1 comment:
I didn't realize oil and mining was a basis for the strength of the Canadian economy. Then again we don't drill much anymore so that would explain some of our problems. Don't they have global warming and stuff like that up north?
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