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According to analysts at TD Securities, Canada’s higher energy prices will provide a tailwind to nominal exports and help the international merchandise trade deficit to narrow to $2.3bn in March (TD & market) alongside a rebound in non-energy exports following a broad pullback in February.

Key Quotes

“Real exports should post a more modest advance while higher imports will provide an offset. New home prices for March will be released alongside trade where TD is on consensus for a flat print.”