By Commodity News Service Canada
WINNIPEG, May 3 (CNS Canada) The Canadian dollar was firmer Thursday morning, showing a mixed reaction to the latest trade data.
At 9:17 CDT Thursday morning the Canadian dollar was at US$0.7783 or C$1.2849, which compares with Wednesday’s North American close of US$0.7781 or C$1.2851.
Canada’s trade deficit widened to a record C$4.1 billion in March, from a revised reading of C$2.9 billion the previous month, according to a report from Statistics Canada. While the wide deficit put some pressure on the Canadian dollar, analysts said increases in both imports and exports were good signs for the economy.
Imports rose by 6.0 per cent to a record of C$51.7 billion, while exports were up by 3.7 per cent to C$47.6 billion, according to the StatsCan report.
The TSX was weaker at 9:17 CDT, down 9.17 points at 15,618.76.
