By Commodity News Service Canada
WINNIPEG, Nov. 30 (CNS Canada) The Canadian dollar was holding steady Thursday morning, seeing some consolidation after hitting fresh lows earlier in the session.
At 9:13 CST Thursday morning the Canadian dollar was at US$0.7777 or C$1.2858 which compares with Wednesday’s North American close of US$0.7780 or C$1.2853.
Gains in crude oil provided some underlying support for the energy-linked currency, as investors watch for news out of an OPEC meeting taking place in Vienna.
Canada’s current account deficit increased by C$3.8 billion in the third quarter, hitting $19.35 billion, according to a report from Statistics Canada. The trade gap marked the third largest on record.
In a separate report, average weekly earnings of non-farm payroll employees increased by 1.0 per cent in September, hitting C$986.
Canadian employment and GDP data will be released on Friday.
The TSX was stronger at 9:13 CST, up 49.20 points at 16,016.92.
