Canada to report wider trade deficit - TDS

Analysts at TD and the wider market expect Canada’s May international merchandise trade report to reveal a wider deficit.

Key Quotes

“While the market consensus is for the trade balance to deteriorate from -$0.37bn to -$0.50bn, TD is below the market and expects the deficit to widen to -$0.80bn. This is on account of the negative impact from oil prices as well as a deteriorating outlook for US auto sales. Building permits for May will be released simultaneously and are expected by the market to rise by 1.0% m/m.”