Canadian dollar stabilizes as narrowing trade deficit offsets recent losses
The loonie ended a six-day losing streak on Thursday as a surge in gold exports helped narrow the trade deficit. Rising oil prices also provided support.
The Canadian dollar steadied near a 13-day low on Thursday, halting a six-session slide after new data showed the trade deficit in Canada 
CA narrowed to C$1.31 billion in December. The stabilization coincided with the currency hitting its weakest level since Feb. 6 after six consecutive down days. This move was further supported by a notable rise in oil prices, which were mentioned as a coincident factor influencing the loonie and the domestic oil sector.
CA narrowed to C$1.31 billion in December. The stabilization coincided with the currency hitting its weakest level since Feb. 6 after six consecutive down days. This move was further supported by a notable rise in oil prices, which were mentioned as a coincident factor influencing the loonie and the domestic oil sector.
