Trade balance data for the United States and Canada

USA:

• Export volume, fact 205.10B, forecast 209.10B.
• Import volume, fact 264.90B, forecast 259.40B.
• Trade balance (December), fact -59.80B, forecast -57.90B.

Canada:

• Labor productivity (q/q) (Q4), fact -0.4%, forecast 0.2%.
• Trade balance (December), fact -4.59B, forecast -1.70B.

Data on the trade balance of the United States and Canada fell short of market expectations and showed an increase in the trade deficit. The US data updated the minimum values ​​for the last eleven years, came close to the lows ​​of 2008, but in fact did not show anything new, as did the huge budget deficit.

Fig. 1. U.S. trade balance (December)

Data on the trade balance of Canada also showed an increase in the deficit, updating historic lows. This news should have put more significant pressure on the Canadian dollar, if not for its oversoldness and waiting for the results of the Bank of Canada meeting to be released today.

Fig. 2. Canada’s trade balance (December)

The dynamics of the USD/CAD pair and the market as a whole remains restrained, thanks to the limitedness of the American dollar and the expectation of data from the Bank of Canada meeting results.

Fig. 3. USD/CAD chart. Current price – 1.3380

Read also: “How long will last the US trade war against all?”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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