The loonie is back above 73 cents — for now

TORONTO – Canada’s dollar and its largest stock market were up significantly in the early going of Thursday’s trading day.

The loonie rose above 73 cents US for the first time this year, climbing by 0.44 to 73.01 cents US at 11 a.m. ET.

Meanwhile the Toronto Stock Exchange’s S&P/TSX Composite index was up 217.7 points at 12,810.70, while U.S. stock markets similarly rallied.

MORE: A 60-cent loonie and oil at $10? Sure, why not? 

The Dow Jones Industrials average was up 122.8 points at 16,459.42, the broader S&P 500 index rose 11.72 points to 1,924.25 and the Nasdaq 100 climbed 29.63 points to 4,533.87.

On the commodity markets, the March contract for oil on the Nymex was up $1.16 at US$33.44 per barrel.

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