Glacier FarmMedia — The Canadian dollar was slightly firmer Tuesday morning, as activity resumed after the August long weekend.
At 9:00 a.m. CDT the Canadian dollar was trading at US$0.7259 or US$1=C$1.3776 which compares with Friday’s close of US$0.7248 or US$1=C$1.3797.
Canada’s merchandise trade deficit with the rest of the world widened to C$5.9 billion in June from C$5.5 billion the previous month, as imports increased by 1.4 per cent and exports were up 0.9 per cent, reported Statistics Canada.
Crude oil was softer in early trade, with West Texas Intermediate down 1.24 per cent at US$65.47 per barrel.
The TSX was sharply higher amid mounting expectations for an interest rate cut in the United States in September, gaining 473.06 points at 9:00 CDT to trade at 27,493.49.
