FX

Canada: International trade surplus widens to C$0.59 billion in April

  • Canada posted a trade surplus with the world in April.
  • USD/CAD continues to move sideways in a tight range below 1.2100.

Canada’s merchandise trade surplus with the world widened to C$0.59 billion in April from a deficit of C$1.35 billion in March, the monthly data published by Statistics Canada revealed on Tuesday. This reading came in better than the analysts’ estimate for a deficit of C$0.8 billion.

“In April, Canada’s merchandise imports fell 4.7%, while exports decreased 1.0%,” the publication read. “Both declines were attributable in large part to significant decreases in trade of motor vehicles and parts.”

Market reaction 

The USD/CAD pair showed no reaction to these figures and was last seen trading flat on the day at 1.2079.

Articles You May Like

Goldman Sachs CEO David Solomon expresses uncertainty about avoiding a US recession
Gold rebounds as US dollar, yields slip with eyes on Fed guidance
AUDUSD consolidates in a narrow trading range. What is needed to break out of the cage?
“Demystifying Breaker Blocks in Forex Trading: Understanding Limits and Opportunities”
Inflation remains sticky in Europe, with core prices cooling less than expected

Leave a Reply

Your email address will not be published. Required fields are marked *