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.