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Canadian dollar advances as trade deficit narrows, commodities rise

Posted on 08 March 2013

The Canadian dollar closed higher Thursday after the latest trade figures showed Canada’s merchandise trade deficit narrowed in January. The currency rose 0.19 of a cent to 97.14 cents US as Statistics Canada said the trade deficit with the world narrowed to $237 million in January from $332 million in December.
Exports rose 2.1 per cent to $39.1 billion while imports decreased 1.9 per cent to $39.3 billion. Meanwhile, the U.S. trade deficit widened in January, reflecting a big jump in oil imports and a drop in exports………………………………………..Full Article: Source

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