Deficit lower vs the 1st quarter deficit of -C$17.48B
Canada recorded a Current Account deficit of 15880 CAD Million in the second quarter of 2018.
- Prior quarter Revised to -C$17.48B from -C$19.5B in the 1Q
- Goods deficit -C$5.297 vs -C$8.562B last quarter
- Services deficit -C$6.986B vs -C$5.880B last quarter
- Investment income -C$2.346B vs -C$2.037B last quarter.
- Total exports of goods rose by $8.1 billion to $148.0 billion in the second quarter.
- Total imports of goods were up $4.8 billion to $153.3 billion.
The goods surplus with the United States rose by $3.4 billion, on the back of stronger exports.
The deficit with non-US countries widened by $0.1 billion to $16.3 billion. On a country basis, the largest improvements to trade balances were with China, Hong Kong and Switzerland, while the most important declines were with United Kingdom and South Korea.
The USDCAD is near unchanged on the day but near the highs for the day. The focus will be on the trade talks in Washington today.
Despite announcing a trade deal with Mexico yesterday, the market is favoring the USD over the MXN. the USDMXN rose from 18.70288 to the current 19.1108 today.
