Uptick in price of crude helps loonie climb despite trade deficit

By The Canadian Press
July 6, 2016 - 2:41pm

TORONTO - An uptick in oil prices helped the Canadian dollar climb higher, despite new figures showing Canada hit a record trade deficit in April.

The loonie gained 0.34 of a U.S. cent to 77.17 cents US.

The August contract for benchmark crude added 83 cents to US$47.43.

The S*P/TSX composite index inched up 11.49 points to close at 14,231.06.

In New York, the Dow Jones industrial average rose 78 points to 17,918.62, the broader S*P 500 composite index gained 11.18 points to 2,099.73 and the Nasdaq composite was up 36.26 points to 4,859.16.

In other commodity news, August natural gas contracts settled at US$2.79, up 2.2 cents, August gold climbed $8.40 to US$1,367.10 an ounce and September copper contracts fell three cents to US$2.15 a pound.

(The Canadian Press) 

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