By MarketsFarm
WINNIPEG, Nov. 5 (MarketsFarm) The Canadian dollar was steady on Tuesday morning after falling nearly half a cent over the past seven days.
At 8:50 CDT, the Canadian dollar was at US$0.7610 or C$1.3140, which compares with Monday’s North American close of US$0.7606 or C$1.3148.
Statistics Canada reported the country’s trade deficit narrowed to just under C$1 billion in September. The decrease was due to total imports falling by 1.7 per cent during the month.
Oil prices rose for the third consecutive day, boosted by signals of an impending trade deal between the United States and China. Gains were limited by large outputs, however, as U.S. crude inventories rose by 2 million barrels last week. Brent Crude was up 68 cents at US$62.81 per barrel, and West Texas Intermediate (WTI) was up 54 cents at US$57.08 per barrel.
The TSX was stronger at 8:50 CDT, up by 26.97 at 16,696.78. The S&P 500 Index was down 0.23 points to hit 3,078.49. The Dow Jones gained 25.77 points at 27,493.59. The NASDAQ increased slightly, up 7.49 to hit 8,441.41.
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