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Canadian foreign securities purchases decline unexpectedly in June

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Investing.com -

Investing.com - Foreign investors' acquisitions of Canadian securities declined unexpectedly in June, reflecting weak foreign demand for Canadian assets, official data showed on Monday.

In a report, Statistics Canada said that foreign investment decreased by a seasonally adjusted C$1.07 billion in June, compared to expectations for purchases of C$14.68 billion.

Foreign investors purchased C$21.42 billion worth of Canadian securities in May.

At the same time, Canadian investors continued their moderate investment in foreign securities by adding $2.0 billion to their portfolios in June.

Following the release of the data, the Canadian dollar was higher against its U.S. counterpart, with USD/CAD shedding 0.17% to trade at 1.0880.

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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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