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(H2) Fading End-2021 Strength

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Coming up in the Asia-Pac session on Tuesday:

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Corrective Bounce

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Bearish Threat Following Friday’s Sell-Off

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OTTAWA (MNI)

Canada's October trade surplus was the biggest since 2011, boosted by shipments of automobiles and energy, masking weakness in revisions to the prior four months that sliced the cumulative surplus over that period to CAD4.5 billion from CAD6.3 billion, data released Tuesday showed.

The October surplus widened to CAD2.1 billion from CAD1.4 billion in September, Statistics Canada said Tuesday, bigger than the CAD1.95 billion economist consensus. Both imports and exports reached all-time highs in the last major report before the central bank's rate decision Wednesday where investors see more pressure to raise rates early next year given the strength of the economic recovery.

The next trade report may show weakness linked to flooding in British Columbia that cut off major highways and the nation's biggest port in Vancouver. That could curb exports more than imports since some ships arriving on the west coast may have been able to clear customs and be recorded as delivered, while exports were waylaid.

Source: StatCan

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