By Commodity News Service Canada
Winnipeg, November 27 – The Canadian dollar was slightly lower on Thursday as improving trade data was offset by weak commodity prices.
At 8:55 CST Thursday morning, the loonie was down 0.0022 of a cent to US$0.8867 or US$1 = C$1.1278. Canada’s current account deficit narrowed by C$1.5 billion in the latest quarter to $8.4 billion.
Imports were up C$1.3 billion to $135 billion, according to a report.
Officials from OPEC are meeting in Vienna today to discuss the question of whether or not to cut production in a bid to boost prices. Values have fallen about 30 percent since mid-summer.
On the commodity markets the January crude contract in New York fell $1.29 to US$72.40 a barrel. March copper fell two cents at US$2.95 a pound while the December gold contract dipped $3.00 to US$1,194.50 an ounce.
At 8:55 CST Thursday morning, the TSX was down 5.08 points to 15,033.33.
