By MarketsFarm
WINNIPEG, Nov. 7 (MarketsFarm) – The Canadian dollar was weaker Tuesday morning, as losses in crude oil weighed on the energy-linked currency.
At 8:39 a.m. CST Tuesday morning the Canadian dollar was trading at US$0.7266 or US$1=C$1.3763, which compares with Monday’s close of US$0.7312 or US$1=C$1.3676.
Canada’s merchandise exports were up by 2.7 per cent in September while imports increased by 1.0 per cent, as a result the country’s merchandise trade deficit widened to C$2.0 billion, from C$949 million in August, according to a report from Statistics Canada.
Economic data out of China showing a 6.4 per cent drop in exports on the year and a narrowing trade surplus weighed heavily on crude oil prices, despite the ongoing conflict in the Middle East.
West Texas Intermediate was down by 2.19 per cent at US$79.05 per barrel.
The TSX was weaker, down by 178.56 points at 8:39 CST, trading at 19,565.38 points.
