By MarketsFarm
WINNIPEG, Aug. 4 (MarketsFarm) – The Canadian dollar was slightly weaker Thursday morning, as losses in crude oil weighed on the energy-linked currency.
At 8:54 a.m. CDT Thursday morning the Canadian dollar was at US$0.7770 or US$1=C$1.2870, which compares with Wednesday’s close of US$0.7780 or US$1=C$1.2853.
Canada’s merchandise exports increased by 2.0 per cent in June while imports were up by 1.7 per cent, according to a report from Statistics Canada. As a result, the country’s trade surplus widened to C$5.0 billion, from C$4.8 billion the previous month.
The value of building permits in Canada fell by 1.5 per cent in June to C$11.9 billion, according to a separate Statistics Canada report.
Crude oil continued to be pressured by Wednesday’s unexpected increase in U.S. crude and gasoline stocks. West Texas Intermediate was down by 1.3 per cent at US$89.48 per barrel.
The TSX was up by 67.13 points at 8:54 CDT, trading at 19,613.07 points.
