WINNIPEG, Dec. 5 (MarketsFarm) The Canadian dollar was stronger Thursday morning, seeing some follow-through buying interest after Wednesday’s rally.
At 8:50 CST Thursday morning the Canadian dollar was at US$0.7594 or C$1.3168 which compares with Wednesday’s North American close of US$0.7563 or C$1.3223.
The Bank of Canada’s decision to hold steady on interest rates and accompanying somewhat-hawkish statement remained supportive on Thursday.
The value of Canadian exports rose by 0.8 per cent in October while imports increased by 0.5 per cent, according to updated Statistics Canada data. As a result, the country’s trade deficit with the rest of the world narrowed to C$1.1 billion, from C$1.2 billion the previous month.
Crude oil was stronger in early activity, providing some underlying support for the energy-linked currency.
The TSX was down by 36.38 points at 8:50 CST to sit at 16,860.96.