By Commodity News Service Canada
WINNIPEG, Jan. 10 – The Canadian dollar was trading at a firmer level versus its US counterpart at 8:50 CST Thursday, as strong Chinese export reports lifted its value, analysts said.
China’s overseas sales were up 14.1% in December compared to December 2011, beating pre-report expectations of a 5% increase.
At 8:50 CST Thursday, the Canadian dollar was at US$1.0141 or US$=C$0.9861, which compares with Wednesday’s North American close of US$1.0125 or US$=C$0.9877.
Strong commodity prices, including crude oil, gold and copper, also helped to underpin the value of the Canadian currency.
Read Also
Canadian Financial Close: Loonie returns above 72 U.S. cents
By Glen Hallick Glacier Farm Media | MarketsFarm – The Canadian dollar on Friday finally turned around to close higher,…
News that the European central Bank has decided not to change its policy rate had traders more willing to take on riskier assets, including the Canadian dollar.
However, soft weekly US jobless claims data limited the advances. The US Labor Department reported US jobless claims increased by 4,000 last week to a seasonally adjusted 371,000.
Statistics Canada reported municipalities issued C$6.2 billion in building permits in November, down 17.9% from October and the lowest level since January 2012.
The TSX was up 43.93 points, or 0.35%, at 8:50 CST Thursday morning to sit at 12,566.17.
