By MarketsFarm
WINNIPEG, Jan. 7 (MarketsFarm) – The Canadian dollar was slightly weaker Thursday morning, backing away from the nearly three-year highs hit the previous session.
At 8:53 CST Thursday morning the Canadian dollar was at US$0.7856 or C$1.2729 which compares with Wednesday’s North American close of US$0.7883 or C$1.2685.
Canadian international merchandise trade data for November showed a 0.5 per cent increase compared to the previous month, with the largest gains in gold. Imports were down 0.3 per cent on the month, causing the country’s merchandise trade deficit to narrow to C$3.3 billion, from C$3.7 billion the previous month, according to a report from Statistics Canada.
Crude oil was holding relatively steady in early activity, with West Texas Intermediate down only two cents at US$50.61 per barrel.
The TSX was up by 104.41 points at 8:53 CST to trade at 17,932.52 points.
