Canada: October trade balance likely to improve to -C$2.2bn – RBC CM
Research Team at RBC Capital Markets, expects the Canada’s October trade balance to improve to -C$2.2bn from a -C$4.1bn balance in September that was largely due to the import of a close to C$3bn offshore oil rig module.
Key Quotes
“With no such transaction in October, imports should be down ~2.7%m/m. Real non-energy goods exports have been in negative territory on a YoY basis for four consecutive months, underlining that the 1.5pp add in Q3 from net trade (goods and services) was largely due to returning oil production after wildfire-related shutdowns in Q2.”
Author
Sandeep Kanihama
FXStreet Contributor
Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.
