By Commodity News Service Canada
WINNIPEG, May 30 – The Canadian dollar was firmer Thursday morning, as a weaker tone in the US currency internationally accounted for some of the relative strength.
At 9:42 CDT Thursday morning the Canadian dollar was at US$0.9694 or C$1.0316 which compares with Wednesday’s North American close of US$0.9660, or C$1.0352.
A combination of rising US jobless claims and declining economic growth in the country put some pressure on the US dollar Thursday morning, which was indirectly supportive for the Canadian dollar.
In domestic data, producer prices declined for the first time in five months, losing 0.8% in April compared to the previous month, Statistics Canada reported.
StatsCan will release updated gross domestic product data on Friday.
The TSX was near unchanged Thursday morning, down only 5.93 points at 9:42 CDT to sit at 12,726.68.
