The US Dollar traded sideways against the Canadian Dollar, following the Canadian Trade Balance data release on Tuesday at 12:30 GMT. The USD/CAD exchange currency rate gained 3 pips or 0.02% after the release. The Greenback continued trading at the 1.4030 level against the Canadian Dollar after the release.
Statistics Canada released the Canadian Trade Balance data, which came out better-than-expected of negative 1.4B compared with the forecast of negative 2.3B.
According to the official release: "In March, despite Canadian borders remaining open for goods, both imports and exports decreased notably, as the impact of measures to contain the spread of COVID-19 in Canada became evident. With a full month of physical distancing policies in place in April, merchandise trade values are expected to decrease more severely next month."
| Date | 07.01.20 | 05.02.20 | 06.03.20 | 02.04.20 | 05.05.20 |
|---|---|---|---|---|---|
| Actual | -1.1B | -0.4B | -1.5B | -1.0B | -1.4B |
| Forecast | -0.8B | -0.6B | -0.8B | -2.3B | -2.3B |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.90424 | 0.90452 | 0.03% |
| CAD/CHF | 0.6923 | 0.69198 | -0.05% |
| EUR/CAD | 1.52199 | 1.52202 | 0.00% |
| USD/CAD | 1.4027 | 1.40304 | 0.02% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 65.7% | 34.3% |
| CAD/CHF | 67.0% | 33.0% |
| EUR/CAD | 51.5% | 48.5% |
| USD/CAD | 39.8% | 60.2% |
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