MNI: GERMANY NOV UE RATE (SA) 6.1% (FCST 6.1%); OCT 6.1%

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

MNI: GERMANY OCT RETAIL SALES -1.5% M/M

MNI BRIEF: Trump Tariffs To Push China, EU Cooperation - BOC

MNI: PBOC Net Drains CNY156.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1877 Fri; -1.39% Y/Y

MNI: ITALY NOV FLASH HICP +0% M/M, +1.6% Y/Y

MNI: EUROZONE NOV FLASH HICP +2.3% Y/Y

MNI: UK OCT M4 MONEY SUPPLY -0.1% M/M, +3% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Import Compression Flatters Larger Trade Surplus

CANADA
  • The merchandise trade surplus was notably larger than expected in May at C$5.3B (cons C$2.4B) after an upward revised C$2.17B.
  • Jumping above recent highs, this is a new largest surplus since 2008, whilst the Can-US surplus of C$14B is the largest on record (both nominal measures).
  • However, some of the gloss is taken away by import weakness being led by consumer goods, in a sign of softer domestic demand (with total real imports -1.4% M/M), whilst export strength was concentrated in crude oil and aircraft (total real exports +1.7%).
  • There has been very little net impact on USDCAD with the release, currently up 2pips to keep it -0.3% on the day at 1.2998 in only a partial retracement of recent large gains for the pair.
BulletMarketsFixed Income BulletsForeign Exchange BulletsHomepage
BulletMarketsFixed Income BulletsForeign Exchange BulletsHomepage

To read the full story

Close

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.