Canada just posted a massive Q2 current account surprise đšđŠ
Expected: -$2.0B deficit
Actual: +$8.84B surplus
That's a $10.8B beat. Previous quarter also revised deeper into deficit at -$8.31B.
This swing tells you something shifted hard in Canada's trade flows or investment income. Either exports surged, imports fell off a cliff, or capital flows reversed sharply. Worth watching if this holds or if it's a one-off rebalancing.
$EWC traders should be paying attention â a sustained surplus could support the loonie and shift BoC's calculus on rates.
Expected: -$2.0B deficit
Actual: +$8.84B surplus
That's a $10.8B beat. Previous quarter also revised deeper into deficit at -$8.31B.
This swing tells you something shifted hard in Canada's trade flows or investment income. Either exports surged, imports fell off a cliff, or capital flows reversed sharply. Worth watching if this holds or if it's a one-off rebalancing.
$EWC traders should be paying attention â a sustained surplus could support the loonie and shift BoC's calculus on rates.