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The Canadian Dollar weakened against the Greenback, following Canadian Trade Balance data release on Thursday. The USD/CAD currency pair gained only one pip, or 0.01%, and later on was seen to continue to go upwards, thus weakening the Canadian Dollar even more.
The Statistics Canada released lower-than-expected Trade Balance data of negative 4.1B for the month of March. The trade balance continued to stay in the deficit zone.
"In what was expected to be a mundane release, the trade deficit widened to a record level in March," says Royce Mendes, an economist at CIBC Capital Markets.
| Historical Data Table: Canadian Trade Balance | Economic Calendar for 04.05.2018 | ||||||||
| Date | 05.01.2018 | 06.02.2018 | 07.03.2018 | 05.04.2018 | 03.05.2018 | 12:30 PM | US Average Hourly Earnings | ||
| Actual | -2.5B | -3.2B | -1.9B | -2.7B | -4.1B | 12:30 PM | US Non-Farm Empl. Change | ||
| Forecast | -1.2B | -2.3B | -2.5B | -2.1B | -2.3B | 12:30 PM | US Unemployment Rate | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/CAD | 0.96759 | 0.96847 | 0.09% | AUD/CAD | 70.81% | 29.19% | |||
| CAD/CHF | 0.77632 | 0.77538 | -0.12% | CAD/CHF | 65.76% | 34.24% | |||
| EUR/CAD | 1.54152 | 1.54277 | 0.08% | EUR/CAD | 34.58% | 65.42% | |||
| USD/CAD | 1.2857 | 1.28622 | 0.04% | USD/CAD | 55.22% | 44.78% | |||