By Commodity News Service Canada
Sept. 5 (CNS Canada) — The Canadian dollar climbed slightly today, recovering some of yesterday’s losses, while markets waited on news from North American Free Trade Agreement talks and an interest rate decision by the Bank of Canada. It appears the bank will wait until October before increasing rates again.
The Canadian dollar was trading at US$0.7590, or C$1.3175 per U.S. dollar at 8:40 CDT this morning. The loonie closed Sept. 4 at US$0.7586, or C$1.3182.
Canada’s merchandise trade deficit with the world fell to C$114 million in July, down from C$743 million in June, based on data released by Statistics Canada today. That is the smallest trade deficit Canada has posted since a surplus in December of 2016. By volume, exports were down 0.8 per cent, while export prices rose 1.6 per cent. The merchandise trade surplus with the United States rose to C$5.3 billion in July, from C$4.1 billion the previous month.
The S&P/TSX composite index was trading at 16,161.30 at 6:45 a.m. CDT, down 0.62 per cent, or 101.58 points.
In the U.S., the S&P 500 was trading at 2,896.73, down 4.80 points or 0.17 per cent. The Dow Jones Industrial Average was down 0.45 per cent to 25.941.68, and the Nasdaq dropped 0.45 per cent, to 8,054.54.
West Texas Intermediate crude oil was trading at US$69.60, up 23 U.S. cents.