Canada’s Mar international merchandise trade:
- Trade Balance: -C$3.2B vs. -C$2.4Be
- Exports: C$49B vs. C$48.0B prior
- Imports: C$52.3B vs. C$50.9B prior
- Trade Balance with U.S: C$3.6B vs. C$3.6B prior
- Trade Balance rest of the world: -C$6.8B vs -6.4B prior
Note: Prior deficit revised worse from -C$2.9B to -C$3.42B
Canada’s trade deficit with the rest of the world narrowed in March on the strength of a broad-based gain in exports.
Canada posted a merchandise trade deficit with the rest of the world of -C$3.21B. Market expectations were for a -C$2.4B deficit. The previous month’s trade deficit was revised higher, to -C$3.42B, because energy exports didn’t increase as much as anticipated.
The March report indicated exports rose +3.2% on a month-over-month basis, while imports climbed +2.5%.
CAD is currently trading at the low of the day outright to the USD at C$1.3495 and is looking to breach the psychological C$1.3500 handle in risk aversion trading.
