By Commodity News Service Canada
Winnipeg, May 30 – The Canadian dollar firmed against its US counterpart at midday Thursday, supported by stronger commodity prices, including gold and crude oil, analysts said.
At 11:59 CDT Thursday, the Canadian dollar was trading at US$0.9699, or US$1=C$1.0310, which compares with Wednesday’s North American close of US$0.9660, or US$=C$1.0352.
Strong Canadian trade data was also friendly for the Canadian dollar. Canada’s current account deficit narrowed by C$0.5 billion, to C$14.1 billion, during the first quarter of 2013, Statistics Canada said.
Some of the strength in the Canadian dollar was also linked to expectations that Friday’s Canadian gross domestic product (GDP) report will show GDP rose by 0.1 per cent in March.
The Toronto Stock Exchange was up 15.85 points, or 0.12%, at 11:59 CDT Thursday, to sit at 12,748.46.
