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 had its biggest merchandise trade surplus since 2008 in the third quarter as a boom in energy exports made up for snarled automobile production, boosting the central bank's argument the economic rebound could support a rate hike as soon as April.
The surplus widened to CAD4 billion from CAD1.1 billion in the second quarter. Exports climbed 5%, the fifth straight gain, led by a 21% rise in energy shipments. Imports gained 3.2%, Statistics Canada said Thursday. Before the pandemic Canada often ran trade deficits that dragged on economic growth.
The latest monthly figures also showed a fourth consecutive merchandise trade surplus in September, the longest streak since 2014, though the latest figure showed declines in both imports and exports linked to the global shortage of automobile semiconductor chips.
The September surplus of CAD1.86 billion was greater than the market expectation for CAD1.5 billion, even as exports fell 2.3% and imports by 3.0%. Crude oil exports rose 7.2% to a record CAD9 billion in September. August's surplus was revised down to CAD1.51 billion from CAD1.94 billion.
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.