Canada Confirms New Federal Budget Surplus

Published 04/22/2015, 01:36 PM
Updated 05/14/2017, 06:45 AM

After a long stretch of deficit budgets in Canada, the federal budget tabled yesterday by the Conservative government confirmed a surplus of $1.4 billion for this year, despite plunging crude oil prices and the country's far-from-ideal economic situation. The surplus is expected to rise to $4.8 billion by 2019-2020. The budget also laid out tax measures totalling $14 billion dedicated to the manufacturing sector, small businesses and infrastructure projects. The news couldn't have been better timed for the government, with a federal election looming this fall.

Yesterday was once again relatively calm for the USD/CAD pairing, which stayed within a 60-point range. We believe this trend should continue today and the time is right for USD buyers to take action in order to make the most of the current CAD level.Have a great day!

Rana Karim

  • Range of the day: 1.2190 - 1.2275

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