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PREVIEW: June Trade Deficit Seen CAD1 Bln, Prior CAD677 Mln

CANADA DATA
  • Report still mainly an update on how fast the economy is re-opening after pandemic shutdown, and how much trade volume returns
  • Bigger than normal risks if there is mismatch of imports/exports as auto plants restart, and rail shipments adjust to farm product backlog, swings in oil use following price crash
  • Q2 deficit may be historically large after outsized deficits of -CAD4.3B in April and -CAD3.3B in March
  • May saw YOY exports -34%, YOY imports -33%
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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