Investing.com – Foreign investors’ acquisitions of Canadian securities rose significantly more-than-expected in May, led by investment in federal government debt instruments, official data showed on Monday.
In a report, Statistics Canada said that foreign investment rose to a seasonally adjusted CAD15.04 billion in May, more than doubling expectations of CAD7.41 billion.
The previous month’s figure was revised up to CAD8.52 billion from CAD8.22 billion.
Canadian investors acquired CAD6.0 billion of foreign stocks while removing CAD2.5 billion of foreign debt instruments from their holdings.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD climbing 0.69% to hit 0.9604.
In a report, Statistics Canada said that foreign investment rose to a seasonally adjusted CAD15.04 billion in May, more than doubling expectations of CAD7.41 billion.
The previous month’s figure was revised up to CAD8.52 billion from CAD8.22 billion.
Canadian investors acquired CAD6.0 billion of foreign stocks while removing CAD2.5 billion of foreign debt instruments from their holdings.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD climbing 0.69% to hit 0.9604.