By Commodity News Service Canada
WINNIPEG, December 4 The Canadian dollar held steady against its US counterpart on Friday as policy changes in Europe dragged down the greenback.
At 8:40 a.m. CST the Canadian dollar was at US$0.7487 or C$1.3356 which compares with Wednesday’s North American close of US$0.7491, or C$1.3349.
The European Central Bank will be easing monetary policy less than market watchers had thought, which caused the US currency to tumble, which was somewhat supportive to the loonie.
Canada’s overall international trade activity was down in October. Exports decreased 1.8 per cent and imports declined 0.8 per cent. Export volumes decreased 1.5 per cent and prices were down 0.4 per cent. For imports, volumes and prices declined 0.2 per cent and 0.6 per cent respectively, Statistics Canada said in a report on Friday.
According to StatsCan, Canada’s merchandise trade deficit with the world widened from C$2.3 billion in September to C$2.8 billion in October, the 14th consecutive monthly deficit.
The TSX was stronger in early activity, up 33.57 points at 8:40 a.m. CST to sit at 13,497.39.
