Canada: International trade surplus widens to C$1.94 billion in August

Canada's international trade surplus widened more than expected in August.
USD/CAD pair continues to move sideways little below 1.2600.

Eren Sengezer FXStreet

Canada's merchandise trade surplus with the world widened to C$1.94 billion in August from C$736 million in July, the monthly data published by Statistics Canada revealed on Tuesday. This reading beat the market expectation for a surplus of C$0.35 billion by a wide margin.

"Canada's merchandise exports increased 0.8% in August, while imports decreased 1.4%," the publication further read. "Exports of energy products increased 5.1% in August to $12.0 billion, the highest level since a record $12.8 billion was posted in March 2014."

Market reaction

The USD/CAD pair showed no immediate reaction to this report and was last seen trading virtually unchanged on the day at 1.2590.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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