Investing.com - Foreign investors’ acquisitions of Canadian securities increased less than expected in November, reflecting weakening foreign demand for Canadian assets, official data showed on Monday.
In a report, Statistics Canada said that foreign investment increased by a seasonally adjusted C$4.29 billion in November, compared to expectations for purchases of C$7.23 billion. Foreign investors purchased C$9.53 billion worth of Canadian securities in October.
Acquisitions were mainly in Canadian corporate bonds as non-residents reduced their exposure to Canadian stocks for the first time in 15 months.
Meanwhile, Canadian investors added C$1.8 billion of foreign securities to their holdings, all in bonds.
USD/CAD was trading at 1.1982 from around 1.1977 ahead of the release of the data.