Loonie closes above parity

[pampango]

The Canadian dollar closed above parity Wednesday for the first time since the end of October.

The loonie closed up .37 of a cent at 100.09 cents US.

Currency traders were encouraged by manufacturing data for China and the United States, which eased concerns that the economic growth rates of both countries is slowing.

The Institute for Supply Management said its U.S. manufacturing index for January came in at 54.1, which showed continuing expansion but the reading was slightly short of economist expectations for a 54.5 reading.

http://www.cbc.ca/news/business/story/2012/02/01/loonie-close-parity.html

Congrats, Canadians. It makes it a little more expensive for most of us to visit your country, but that's the price you pay for having a relatively strong economy and progressive society.

[Fool Count]

1. Aussie is over $1.07 now.

Having converted all my savings when it was $0.69 less than three years ago, do I feel really smart.
Plus I was (and continue to be) making 6% in annual interest all that time.

[Earth_First]

2. Well to be honest, the travel documents now required to re-enter the US

makes tourism from Americans to Canada inaccessible to many now.

I, for one cannot afford an enhanced license for me, my wife and two children just to travel to Canada

[Joe Shlabotnik]

3. no snark intended, but it goes both ways.

I miss the old days (pre-9/11) when we used to drive 25 minutes to buffalo, or Lewiston, on a lark, (well usually because the bars closed later), and just breeze across the border with a smile and flash of our drivers licenses. I think all the subsequent security, has little to do with terrorism, and everything to do with taxation.

[pampango]

6. It is a shame that travel between the US and Canada is such a hassle compared to the "ol' days".

When Germans and French visit each other they hardly know they are crossing a border unless they notice the road signs. And they have much more of a historical reason to hate/distrust each other than Americans and Canadians do.

[jpak]

7. Hell freezes over

yup

[yellowcanine]

8. Actually the Canadian dollar has been near parity or above for quite a while.

Most of 2011 for example.