International merchandise trade for Canada
- Prior was -$2.97B (Revised to -$2.99B)
- Exports $42B vs $42.25B prior
- Imports $45.34B vs $45.25B prior
Canadian trade with a swing and a miss. Data earlier this month showed manufacturing wasn't picking up as quickly as you might think given the rout in the loonie. When those jobs leave, they're slow to come back.
A country that is a raw-materials superpower on the border of the greatest importing country in world history should never have a trade deficit. Yet it does and that's why USD/CAD is another 15 pips on the day and at the highest since early April.
