By Commodity News Service Canada
Winnipeg, April 10 – The Canadian dollar eased against the US dollar at 11:45 CDT Thursday, undermined by disappointing Chinese trade data, analysts said.
Reports showed that exports out of China dropped 6.6 per cent compared to a year ago, falling below expectations that exports would see slight growth. Imports also declined by 11.3 per cent.
At 11:45 CDT Thursday, the Canadian dollar was trading at US$0.9158, or US$1=C$1.0919, which compares with Wednesday’s North American close of US$0.9198 or US$1=C$1.0872.
Weakness in crude oil futures was also behind some of the Canadian dollar’s decline, though strength in gold was supportive.
Better than expected Canadian housing data was also supportive. Statistics Canada said new house prices rose 0.2 per cent month-over-month in February, beating expectations of a 0.1 per cent jump.
The Toronto Stock Exchange was down 102.91 points, or 0.71%, at 11:45 CDT Thursday, to sit at 14,332.67.
