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The Canadian dollar continued to climb Thursday as speculation grew that the Bank of Canada is ready to raise its key interest rate sooner rather than later.
The loonie touched 77 cents US for the first time since February during the session before pulling back at the close to an average price of 76.83 cents US, trading 0.26 of a U.S. cent higher.
The increase was also helped by an uptick in oil prices, with the August crude contract adding 19 cents at US$44.93 per barrel.
Comments from Bank of Canada governor Stephen Poloz on Wednesday raised expectations that a rate increase could come as early as next month’s central bank meeting on July 12.
The bank had lowered its rate twice in 2015 to the very low level of 0.5 per cent to help offset the effects of the lower oil prices.
Chief market strategist Colin Cieszynski of CMC Markets Canada says Poloz’s remarks point to the prospective trend that central banks around the world may start moving on rates.
Realize your Potential
In order to succeed at anything, you need to see that you have the potential to reach your goals. For example, if you want to be a recording artist but have no singing ability, having success in this field is not likely. However, if you love working on cars and have a real talent for fixing engines and transmissions, and to you, success would mean working for NASCAR, you have potential to learn and achieve that success.
Don’t Look Back
Everyone has failures or mistakes from the past. To have success, you need to learn from your past and value those difficult lessons but do not every dwell on the past. Simply move forward and make better, more educated decisions from the lessons learned.
Dare to Dream
To succeed, you need to have dreams and aspirations. Be honest with yourself as to what you want out of life and what you want to give of your life. Allow your mind to dream and think big.
Don’t Give Up
To reach success, you have to persevere. re