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CAD: Canada’s September trade deficit forecasted to improve - TDS

FXStreet (Delhi) – James Rossiter, Senior Global Strategist at TD Securities, expects that the Canadian international trade deficit is forecast to improve to $2.0 billion in September on the heels of an expected rebound in exports, which in turn will be supported by higher commodity prices.

Key Quotes

“Nominal exports are forecast to have increased by around 1.2% m/m with the energy products category leading the way. By contrast, exports of manufactured products are expected to be weaker which is consistent with data released for both US and Canadian production.”

“Meanwhile, imports are forecast to have remained more or less unchanged, though there is a risk that a combination of a weaker currency and some fatigue in domestic demand will unwind some of the increase observed in August. After taking into account changing prices, export volumes are forecast to be more subdued but will still be consistent with the Bank of Canada's non-energy export led growth narrative.”

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