The Canadian dollar firmed Thursday as trade deficit narrowed than expected and comments from the European Central Bank.
Canada’s trade deficit narrowed to C$593 million in July, bolstered by stronger export sector.
Also, the ECB retained its €60 billion a month asset purchase limit, but indicated the eurozone economy was not recuperating at the pace projected.
The loonie closed at 75.46 US cents from Wednesday’s 75.35 US cents.
Traders are expecting a lower probability the Bank of Canada would reduce interest rates by 24 basis points at its meeting this month.
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