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Canada’s trade deficit widens in November

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Investing.com - Canada's trade deficit widened unexpectedly in November, official data showed on Tuesday.

In a report, Statistics Canada said that Canada' trade deficit was CAD0.94 billion in November, compared to a deficit of CAD0.91 billion in October, whose figure was revised from a previously reported surplus of CAD0.08 billion. Analysts had expected Canada to post a trade deficit of CAD0.15 billion in November.

Canada's merchandise exports were unchanged at CAD39.78 billion in November, while imports edged up 0.1% to CAD40.72 billion.

Following the release of the data, the Canadian dollar added to losses against its U.S. counterpart, with USD/CAD rising 0.58% to trade at 1.0718, compared to 1.0697 ahead of the data.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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