- Canadian exports rose 1.8% billion in August following two consecutive monthly declines.
- The trade deficit narrowed to $955 million vs. $1 billion expected.
Statistics Canada on Friday announced that Canada’s merchandise trade deficit narrowed from $1.4 billion in July to $955 million in August. Analysts were expecting a deficit of $1 billion.
“Canada’s exports rose 1.8% in August, mainly due to an increase in exports of energy products and aircraft. Imports were up 1.0%, mostly on higher imports of gold and crude oil,” Statistics Canada explained in its press release.
The USD/CAD pair was last seen trading at 1.3303, down 0.25% on the day.
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