MNI China Daily Summary: Wednesday, July 3

MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI: US MAY TRADE GAP -$75.1B VS APR -$74.5B

MNI: US JOBLESS CLAIMS +4K TO 238K IN JUN 29 WK

MNI: CANADIAN MAY TRADE BALANCE CAD -1.9 BILLION

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

May Trade Balance Weaker Than Expected From Gold Volatility

CANADA DATA
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • Canada trade balance -CAD1.9 in May vs the consensus of -CAD1.3, marking the third deficit in a row and its largest deficit since Jun 2023.
  • Exports -2.6% MOM to the lowest since Jul'23 after rising +2.1% in April as precious metals -17.1% in May. Decreases were seen in 8 of 11 subcategories.
  • Imports -1.6% MOM led by metals as Canadian demand for gold faded from April.
  • Exports -0.6% YOY; imports -1.4%.
  • US surplus widened to +CAD8.2B from +CAD7.1B from light truck exports.
  • Ex-US deficit widened to -CAD10.1B from -CAD8.4B in May as exports fell by the fastest pace on record.
  • April trade deficit revised to -CAD1.3B from -CA1B.
107 words

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.
  • Canada trade balance -CAD1.9 in May vs the consensus of -CAD1.3, marking the third deficit in a row and its largest deficit since Jun 2023.
  • Exports -2.6% MOM to the lowest since Jul'23 after rising +2.1% in April as precious metals -17.1% in May. Decreases were seen in 8 of 11 subcategories.
  • Imports -1.6% MOM led by metals as Canadian demand for gold faded from April.
  • Exports -0.6% YOY; imports -1.4%.
  • US surplus widened to +CAD8.2B from +CAD7.1B from light truck exports.
  • Ex-US deficit widened to -CAD10.1B from -CAD8.4B in May as exports fell by the fastest pace on record.
  • April trade deficit revised to -CAD1.3B from -CA1B.