The Canadian dollar is making headway against the US dollar in currency trading this morning. FX trading with the loonie should consider that the currency has been strong all year, remaining very close to parity with the US dollar.

Right now, the Canadian dollar is receiving support in currency trading from the economic news that housing starts are on the rise. This indicates that the Canadian economy could be growing.

Another factor that is helping the Canadian dollar in forex trading is the fact that oil prices have bounced today. News that Iran has test fired a missile capable of reaching Israel has the Middle East and the United States in an uproar that has oil moving up.