I think the loonie is already at par, it's far stronger than most people realize. I have been told that Dodge has been doing everything possible to try and keep it under $1.00, because once it passes par, it could quickly rise to $1.15-$1.25. I believe currency traders want to push it higher than the USD...
There is absolutely nothing holding Canda back, imo. They are in the best position of the G7 nations, far stronger than the UK, or the Euro zone. The population is small and well educated, the budget is balanced, and the country has an ideal balance between manufacturing and commodity exports.
Personally, I've been bullish on Canada since 2002, when we first came up to buy property, and I see no reason to change my assessment. This is a long term buy and hold, imo. Our biggest hurdle has been finding Ashley similar work in Toronto, as there still isn't the kind of trading going on in Canada as is found in London or New York. But I suspect that could change rapidly...all depends on how things evolve in coming years.
The only thing that could prevent CAD from surging to $1.25 in time would be a global recession that might cut back on the need for hard commodities, but frankly, no one seems to see why that would happen. India and China are entering a new phase in their growth, and there'll be a need for zinc, nickle, steel, wood, etc for decades...
So yes, I think CAD will surpass the all time high.
Market Data 
Markets 
AI
