Free Trial
NATURAL GAS

US Gas Prices Surge On EIA Data

US TSYS

Market Roundup: Occam's Razor?

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
--5 Things We Learned From Canadian Merchandise Trade Data
By Yali N'Diaye
     OTTAWA (MNI) - The following are the key points from the April data 
on the Canadian merchandise trade data released Wednesday by Statistics 
Canada: 
     - The goods trade deficit narrowed to C$1.9 billion in April, while 
analysts in a MNI survey had expected a C$3.0 billion gap. The positive 
surprise was reinforced by the revision to March deficit estimate now at 
C$3.9 billion, revised from the C$4.1 billion initially reported. 
     - Exports rose for the third consecutive month, posting a 1.6% gain 
to a record C$48.6 billion. Volumes were up 1.2% after rising 3.5% in 
March and 1.1% in February. Imports fell 2.5% on the month, with volumes 
down 2.4%. Of note, imports of industrial machinery and equipment, an 
indicator of investment activity followed by the Bank of Canada, edged 
down 0.8% in April after rising 3.5% in March, with volumes down 0.2%. 
Imports of consumer goods fell 4.9%, with volumes down 4.7%. 
     - On a sector basis, six of 11 export sections posted gains, led by 
metal and non-metallic mineral products (+9.1%), consumer goods (+5.4%), 
and energy. As expected, higher oil prices benefited energy exports, 
which rose 2.3% on the month, mostly as a result of a price effect, as 
volumes edged up just 0.2%. 
     - Regionally, exports to the U.S. rose a further 3.2% after gains 
of 1.2% in March and 1.5% in February, while imports fell 1.4%, leading 
to a widening of the surplus with the U.S. to C$3.6 billion, the largest 
in almost a year. 
     - Statistics Canada provided some insight on tariffs on steel and 
aluminum products. In 2017, the export value of aluminum products that 
are now subject to the 10% U.S. tariffs was C$9.2 billion, representing 
1.7% of total Canadian exports of C$549.6 billion. The export value of 
steel products now subject to the 25% tariff was C$7.2 billion in 2017, 
representing 1.3% of total Canadian exports. 
--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com 
[TOPICS: M$C$$$,MACDS$]

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.