Investing.com - Canada’s trade deficit narrowed unexpectedly in June, official data showed on Tuesday.
In a report, Statistics Canada said that Canada’ trade deficit was CAD0.5 billion in June, narrowing from a deficit of CAD0.8 billion in May, whose figure was revised up from a previously reported deficit of CAD0.3 billion.
Analysts had expected Canada’s trade deficit to widen to CAD1.0 billion in June.
Canada's merchandise exports grew 1.4% and imports increased 0.6% in June.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD easing up 0.16% to trade at 1.0379.
In a report, Statistics Canada said that Canada’ trade deficit was CAD0.5 billion in June, narrowing from a deficit of CAD0.8 billion in May, whose figure was revised up from a previously reported deficit of CAD0.3 billion.
Analysts had expected Canada’s trade deficit to widen to CAD1.0 billion in June.
Canada's merchandise exports grew 1.4% and imports increased 0.6% in June.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD easing up 0.16% to trade at 1.0379.