The US Dollar traded sideways against the US Dollar, following the Canadian Trade balance data release on Thursday at 12:30 GMT. The USD/CAD exchange currency rate lost 7 pips or 0.06% right after the release. The Greenback continued trading at the 1.3390 level against the Canadian Dollar.
Statistics Canada released the Canadian Trade Balance data, which came out better-than-expected of negative 1.0B compared with forecast of negative 2.8B.
According to the official release: "Canada's exports rose 1.3% in April, due mainly to higher exports of gold. Imports decreased 1.4%, mostly on lower imports of aircraft. As a result, Canada's merchandise trade deficit with the world narrowed from $2.3 billion in March to $966 million in April, the lowest deficit since October 2018."
| Date | 08.01.19 | 06.03.19 | 17.04.19 | 09.05.19 | 06.05.19 |
|---|---|---|---|---|---|
| Actual | -2.1B | -4.6B | -2.9B | -3.2B | -1.0B |
| Forecast | -2.1B | -2.4B | -3.5B | -2.4B | -2.8B |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.93621 | 0.93594 | -0.03% |
| CAD/CHF | 0.74016 | 0.74022 | 0.01% |
| EUR/CAD | 1.50978 | 1.50967 | -0.01% |
| USD/CAD | 1.34069 | 1.34009 | -0.04% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 74.5% | 25.5% |
| CAD/CHF | 71.5% | 28.5% |
| EUR/CAD | 45.8% | 54.2% |
| USD/CAD | 41.7% | 58.4% |
| GMT | Currency | Event | Forecast | Previous |
|---|---|---|---|---|
| 12:30 | CAD | Employment Change | 8.0K | 106.5K |
| 12:30 | USD | Average Hourly Earnings m/m | 0.3% | 0.2% |
| 12:30 | USD | Non-Farm Employment Change | 180K | 263K |