USD/CAD: Canadian Trade Balance

Source: Dukascopy Bank SA

The US Dollar traded sideways against the Canadian Dollar, following the Canadian Trade Balance data release on Wednesday at 12:30 GMT. The USD/CAD exchange currency rate lost 10 pips or 0.08% right after the release. The Greenback continued trading at the 1.3075 level against the Greenback.

Statistics Canada released the Canadian Trade Balance data , which came out better-than-expected of 0.8B compared with the forecast of negative 1.7B.

According to the official release: "Canada's merchandise trade balance with the world was in a surplus position in May for the second time since December 2016. The $762 million surplus in May followed a $1.1 billion deficit in April. Exports rose 4.6% in May, in part due to an increase in exports of motor vehicles. Imports were up 1.0%, mainly on higher imports of aircraft. In real (or volume) terms, exports increased 4.0% and imports were up 1.2%."


Historical Data: Canadian Trade Balance
Date06.03.1917.04.1909.05.1906.05.1903.07.19
Actual-4.6B-2.9B-3.2B-1.0B0.8B
Forecast-2.4B-3.5B-2.4B-2.8B-1.7B
Initial Reaction on Main Pairs
PairOpenCloseChange
AUD/CAD0.919420.91864-0.08%
CAD/CHF0.752380.752970.08%
EUR/CAD1.479071.47769-0.09%
USD/CAD1.309741.30872-0.08%
July 3, 2019 Open Positions
PairLongsShorts
AUD/CAD56.9%43.1%
CAD/CHF64.3%35.7%
EUR/CAD74.4%25.7%
USD/CAD52.2%47.8%
Economic Calendar for July 4, 2019
GMTCurrencyEventForecastPrevious
1:30AUDRetail Sales m/m0.2%-0.1%
3:35JPY30-y Bond Auction-0.32|3.5
9:00EURRetail Sales m/m0.4%-0.4%

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