By MarketsFarm
WINNIPEG, July 7 (MarketsFarm) – The Canadian dollar was slightly firmer Thursday morning, as gains in crude oil and other outside markets provided some support.
At 8:41 a.m. CDT Thursday morning the Canadian dollar was at US$0.7690 or US$1=C$1.3004, which compares with Wednesday’s close of US$0.7665 or US$1=C$1.3047.
In domestic trade data, Canada’s merchandise exports were up by 4.1 per cent in May compared to the previous month while imports were down by 0.7 per cent. As a result, Canada’s merchandise trade surplus widened to C$5.3 billion, from C$2.2 billion in April. That marked the country’s largest trade surplus since August 2008.
Crude oil was recovering some of its losses posted earlier in the week, with West Texas Intermediate back above US$100 per barrel at US$102.58 per barrel.
The TSX was also stronger, up 204.98 points at 8:41 CDT, trading at 18,934.64 points.
