The Canadian dollar has hit a new 13 year all time high after a report that was released reporting an increase in jobs. This is the strongest rally to happen since March, pushing the currency up to 85 cents. A total of approx. 27,500 jobs were added by employers while unemployment rate maintained holding near 6.8% according to Statistics Canada reports. Economists are expecting 20,000 more jobs to be added based on a survery conducted by Bloomberg News. The Canadian Dollar increase is being viewed as ‘petro currency’, senior economist Avery Shenfeld of CIBC World Markets said. He also made some statements saying he feels the loonie could even gain further gains against the United States.

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