By Commodity News Service Canada
WINNIPEG, March 7 – The Canadian dollar was firmer Thursday morning, as improving domestic trade data provided support.
At 9:15 CST Tuesday morning the Canadian dollar was at US$0.9720 or C$1.0288 which compares with Wednesday’s North American close of US$0.9695, or C$1.0315.
Canada’s trade deficit narrowed in to C$237 million in January, from C$332 million the previous month. Exports were up 2.1% and imports declined 1.9%, Statistics Canada reported.
Meanwhile, the US trade deficit widened by 16.5% during the same period hitting US$44.4 billion, the US Commerce Department reported.
A firmer tone in crude oil and the equity markets helped underpin the Canadian currency as well, said analysts.
The TSX was stronger Thursday morning, up 12.82 points at 9:15 CST to sit at 12,844.78.
