The loonie trading at highest level in a long time

Toronto, April 15 (CINEWS): For Canadian travelers this news could not be sweeter. The sunk loonie was the cause of many changes to travel plans. The Canadian dollar is trading near a nine-month high and stock markets are experiencing a late-morning surge.loonie_apr15
The loonie was as high as 78.13 cents U.S. at one point this morning, up 0.60 from Monday’s close.
It’s the first time since last July that Canada’s currency has been above 78 cents U.S.
At the Toronto Stock Exchange, the S&P/TSX composite index climbed 131.78 points or nearly 1 per cent, at 13,554.54.
In New York, the Dow Jones industrial average gained 150.08 points at 17,707.38, the broader S&P 500 composite index advanced 15.01 points to 2,057.00 and the Nasdaq composite added 27.96 points at 4,861.36.
The May crude contract was up 96 cents at $41.32 (U.S.) per barrel and May natural gas jumped six cents at $1.98 (U.S.) per mmBTU.
The June gold contract fell $1.80 to $1,256.20 (U.S.) an ounce and May copper contracts rose four cents to $2.13 (U.S.) a pound.
Meanwhile the domestic tourism industry that has been salivating at peak occupancy from Americans and Europeans holiday travelers this summer are hoping the loonie doesn’t rise too much too quickly or else it would change their own financial forecasts.

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