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Canadian foreign securities purchases increase more-than-expected

Published 09/16/2013, 08:38 AM
USD/CAD
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Investing.com - Foreign investors’ acquisitions of Canadian securities increased unexpectedly in July, official data showed on Monday.

In a report, Statistics Canada said that foreign investment increased by a seasonally adjusted CAD6.09 billion in July, compared to expectations for a decline of CAD2.23 billion.

Foreign investors sold CAD15.43 billion worth of Canadian securities in June.

Inflows in the month targeted both debt and equity securities.

Meanwhile, Canadian investment in foreign securities slowed to CAD0.9 billion and focused on bonds.

Following the release of the data, the Canadian dollar remained higher against its U.S. counterpart, with USD/CAD shedding 0.53% to trade at 1.0301.

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