The Canadian government stopped its projected of construct balanced budgets by at least two years and promised to continue the plan of delivering economic stimulus and not raising taxes.

The Government also said that the deficit will rise to C$55.9 billion from the C$50.2 billion forecast in June. The deficit for last year was C$5.8 billion. Before that, Canada had enjoyed a long spell of surpluses. According to this, the Canadian Dollar raised to 0.9286 US for Canadian dollars in metatrader 4 trading platform.

Positive earnings forecasts and U.S. Treasury bonds increased investor´s appetite for risk on Thursday, boosting global stocks for a sixth straight session and sending the dollar near 12-month lows.

The sale of 30-year bonds alleviated U.S. fiscal concerns and promoted Treasurie prices, inverting the usual dynamic that sends prices of U.S. debt down when investors become more tolerant to risk. Further supporting market fundamentals were a rise in oil prices and a better-than-expected U.S. weekly jobless claims.