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Canadian dollar firms ahead of BoC decision as stocks rally

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Canadian dollar firms ahead of BoC decision as stocks rally GlobeBusiness

This translation has been automatically generated and has not been verified for accuracy.The Canadian dollar rose against the greenback on Wednesday as investor risk appetite improved, but the currency’s gains were modest ahead of a Bank of Canada interest rate decision and after domestic data showed a wider-than-expected trade deficit.

Canada posted a trade deficit of $1.12 billion in July as imports rose and exports declined, Statistics Canada said. Analysts had forecast a deficit of $0.40 billion.Separate data showed that Canadian labor productivity grew by 0.2 per cent in the second quarter. Stocks rose globally on Wednesday after encouraging data from China reduced concerns of slowing global growth and as UK lawmakers sought to prevent a no-deal Brexit.

 

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