Canada: Q4 Current Account falls to C$ -0.8B versus C$ 4.8B expected

Joel Frank Independent Analyst

Canada's Current Account was a C$ 0.8B deficit in Q4 2021, according to data released by Statistics Canada on Monday. That was well below the expected surplus of C$ 4.8B and marked a drop from Q3's C$ 0.8B surplus.

Market Reaction

The latest weaker than expected Canada trade figures do not seem to have impacted the loonie, with USD/CAD at present largely unmoved in the 1.2740s area. The BoC will be the main event of note this week for the loonie though the overarching direction of FX market sentiment will remain predominantly influenced by geopolitics.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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