Investing.com - Foreign investors’ acquisitions of Canadian securities increased more-than-expected in November, as foreign demand for Canadian assets strengthened, official data showed on Thursday.
In a report, Statistics Canada said that foreign investment increased by a seasonally adjusted CAD8.66 billion in November, compared to expectations for purchases of CAD7.21 billion. Foreign investors bought CAD4.44 billion worth of Canadian securities in October.
The fifth straight month of foreign investment in these instruments was largely composed of corporate securities.
Meanwhile, Canadian investors acquired CAD6.6 billion of foreign securities, all bonds.
Following the release of the data, the Canadian dollar was higher against its U.S. counterpart, with USD/CAD shedding 0.16% to trade at 1.0917.