By Commodity News Service Canada
Winnipeg, November 14 – The Canadian dollar opened weaker against
its US counterpart on Thursday, undermined by better-than-expected US
jobless data, industry watchers said.
The US Department of Labour reported that jobless benefits were
down for a fifth consecutive week, as claims declined by 2,000 during
the week ended November 9 to a seasonally adjusted 339,000.
Losses seen in commodities, including copper and crude oil, added
to the bearish tone.
However, strong Canadian economic data did limit losses, brokers
said. According to Statistics Canada, the trade deficit with the world
narrowed from C$1.1 billion in August to C$435 million in September.
The report said merchandise exports were up 1.8%, while imports were up
0.2%.
At 8:39 CST Thursday, the Canadian dollar was at US$0.9522 or
US$=C$1.0501 which compares with Wednesday’s North American close of
US$0.9558, or US$=C$1.0462.
The TSX was up 35.83 points Thursday morning at 8:39 CST, to sit
at 13,406.49.
