By Commodity News Service Canada
WINNIPEG, April 3 – The Canadian dollar was holding relatively steady at midday Thursday, as the market reacted to conflicting domestic and US trade data.
At 11:54 CDT, the Canadian dollar was trading at US$0.9057 or US$1=C$1.1041 which was steady with Wednesday’s close of US$0.9062 or US$=C$1.1035.
Canada reported a trade surplus of C$290 million in February, the first surplus in five months as exports bounced higher, reported Statistics Canada. While the improving trade data supported the currency, analysts said the recovery was likely not enough to signal a complete turnaround just yet.
Meanwhile, the US trade deficit widened to US$42.3 billion in February, which was well above market estimates.
At midday Thursday the Toronto Stock Exchange was weaker, down 70.30 points at 11:54 CDT to sit at 14,388.81.
