U.S. dollar

Today marks the first time in 31 years the Canadian dollar closed higher than the U.S. dollar. Closing at 100.52 cents U.S., this reflects the rising confidence in Canada's growing economy. The last time the Canadian dollar was valued higher than the U.S. dollar was on November 25, 1976. This is due in no small part to the fact that Canada has the second largest oil reserve in the world in the Alberta Tar Sands, second only to Saudi Arabia. Despite all that though, the U.S.A. is still the foremost world super power both economically and militarily and with the upcoming Federal election and subsequent change in leadership, it likely will weather the storm.