The US Dollar traded sideways against the Canadian Dollar, following the Canadian Trade Balance data release on Friday at 12:30 GMT. The USD/CAD exchange currency rate lost 9 pips or 0.07% right after the release. The Greenback continued trading at the 1.3245 level against the Canadian Dollar.
Statistics Canada released the Canadian Trade Balance data, which came out better-than-expected of 0.1B compared with the forecast of –0.3B. Note, that the US Employment data set was released at the same time.
According to the official release: "Canada's exports were down 5.1% in June, while imports fell 4.3%, both due in part to significant decreases in crude oil, as well as aircraft and other transportation equipment and parts. As a result, Canada's merchandise trade balance remained in a surplus position, settling at $136 million after posting a $556 million surplus in May. The narrow surplus in June represented 0.1% of total monthly merchandise trade and is within the typical margins for revisions to the trade balance in subsequent months."
| Date | 17.04.19 | 09.05.19 | 06.05.19 | 03.07.19 | 02.08.19 |
|---|---|---|---|---|---|
| Actual | -2.9B | -3.2B | -1.0B | 0.8B | 0.1B |
| Forecast | -3.5B | -2.4B | -2.8B | -1.7B | -0.3B |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.89819 | 0.89796 | -0.03% |
| CAD/CHF | 0.74393 | 0.74365 | -0.04% |
| EUR/CAD | 1.47039 | 1.4698 | -0.04% |
| USD/CAD | 1.32436 | 1.32428 | -0.01% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 74.2% | 25.8% |
| CAD/CHF | 71.4% | 28.7% |
| EUR/CAD | 73.3% | 26.7% |
| USD/CAD | 49.6% | 50.4% |
| GMT | Currency | Event | Forecast | Previous |
|---|---|---|---|---|
| 14:00 | USD | ISM Non-Manufacturing PMI | 55.5 | 55.1 |
| 12:30 | NZD | Employment Change q/q | 0.3% | -0.2% |
| 12:30 | NZD | Unemployment Rate | 4.3% | 4.2% |