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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CANADA DATA
- Looking further into the trade data, the sizeable increase in the energy surplus in September (from C$11.4B to C$13.1B) is perhaps behind the lack of positive reaction in CAD to the overall merchandise surplus surprisingly widening from an upward revised C$0.95B to C$2B (cons C$1B).
- Indeed, the non-energy deficit widened from -C$10.4B to -C$11.0B, although it’s still worth noting that on a three-month rolling basis the deficit of circa 7.4% GDP is down from 8.4% GDP in July and the recent peak of 10.0% in Sep’22.
- With the services balance unchanged in September at a deficit of C$1.6B (3-mth average circa -1% GDP), it meant the first goods & services surplus since Dec’22 and before that Jun’22 (albeit still a deficit of -0.4% GDP in Q3).
- Volumes data meanwhile point to a positive contribution from goods net exports in Q3, with exports rising 0.6% and imports slipping -0.4% in Q3 with widespread declines partly offset by strong imports of motor vehicles and parts.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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