By Commodity News Service Canada
Winnipeg, April 10 – The Canadian dollar was trading at a stronger level compared to its US counterpart at midday Wednesday, underpinned by strong Chinese trade data.
According to customs data, China’s trade deficit narrowed to US$800 million in March, while imports were up 14.1 per cent during the month.
At 11:52 CDT Wednesday, the Canadian dollar was trading at US$0.9855, or US$1=C$1.0147, which compares with Tuesday’s North American close of US$0.9400, or US$=C$1.0163.
However, weakness seen in commodity prices, including crude oil and gold, helped to limit the Canadian dollar’s upside potential.
The Toronto Stock Exchange was up 50.61 points, or 0.41%, at 11:52 CDT Wednesday, to sit at 12,534.66.
