CM: Canada trade deficit widens unexpectedly in April
Forex Pros - Canada's trade deficit widened unexpectedly in April, official data showed on Thursday.
In a report, Statistics Canada said that Canada' trade surplus widened to CAD0.9 billion in April, after posting a deficit of CAD0.4 billion in March, whose figure was revised down from a surplus of 0.6 billion.
Analysts had expected Canada's trade balance to post a surplus of CAD0.5 billion.
Canada's exports decreased 1.9%, following a 4.8% gain in March. Imports also declined, falling 0.6%.
As a result, Canada's trade deficit widened from CAD417 million in March to CAD924 million in April.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.11% to trade at 0.9783.
