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The Canadian Dollar weakened against the Greenback, following Canadian Trade Balance data release on Wednesday. The USD/CAD currency pair gained only one pip, or 0.01%, to continue fluctuating in the 1.2875 area.
The Statistics Canada released International Merchandise Trade data that came out better-than-expected of negative 1.9B, compared to the negative 4.1B in the previous period.
"Today's trade data suggest that net trade started Q2 as a positive contributor to GDP. The narrower-than-expected deficit has been positive for the loonie," said Royce Mendes, an economist at CIBC Capital Markets.
| Historical Data Table: Canadian Trade Balance | Economic Calendar for 07.06.2018 | ||||||||
| Date | 06.02.2018 | 07.03.2018 | 05.04.2018 | 03.05.2018 | 06.06.2018 | 1:30 AM | AUD Trade Balance | ||
| Actual | -3.2B | -1.9B | -2.7B | -4.1B | -1.9B | 7:30 AM | UK Halifax HPI m/m | ||
| Forecast | -2.3B | -2.5B | -2.1B | -2.3B | -3.4B | 3:15 PM | CAD BOC Gov Poloz Speaks | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/CAD | 0.98613 | 0.98656 | 0.04% | AUD/CAD | 62.55% | 37.45% | |||
| CAD/CHF | 0.76706 | 0.76732 | 0.03% | CAD/CHF | 33.20% | 66.80% | |||
| EUR/CAD | 1.51452 | 1.51513 | 0.04% | EUR/CAD | 34.29% | 65.71% | |||
| USD/CAD | 1.28709 | 1.28729 | 0.02% | USD/CAD | 38.78% | 61.22% | |||