Data released today showed a surplus in Canada’s goods trade balance in June. Kyle Dahms, an analyst at the National Bank of Canada, noted net exports expanded during the second quarter, despite a decline in exports and imports in June. Key Quotes: “The headline Canadian trade number came in better than expected in June as the merchandise trade balance remained in surplus territory for a second consecutive month (first time since 2016). However, the latest print showed a severe deterioration in two-way trade. Indeed, this was the worst one month decline for exports in 2 years and the poorest showing for imports since July 2017. Drilling down, exports of crude oil declined for the first time in 2019 on lower prices.” “Still the June result for exports leaves shipment volumes on pace for a 14.7% annualized gain in Q2. This, combined with a 3.2% annualized sag in imports, should translate into a contribution to GDP growth from trade in the quarter.” “This is consistent with our call for a GDP print of 3.0% in the second quarter of the year.” “In real terms, exports decreased 2.2%, while imports fell 3.6%.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Consumer Confidence has been resilient but new tariffs on Chinese goods could be a concern – Wells Fargo FX Street 4 years Data released today showed a surplus in Canada's goods trade balance in June. Kyle Dahms, an analyst at the National Bank of Canada, noted net exports expanded during the second quarter, despite a decline in exports and imports in June. Key Quotes: "The headline Canadian trade number came in better than expected in June as the merchandise trade balance remained in surplus territory for a second consecutive month (first time since 2016). However, the latest print showed a severe deterioration in two-way trade. Indeed, this was the worst one month decline for exports in 2 years and the poorest showing… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
