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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.