Canada: Goods trade deficit to narrow modestly to $0.90bn - TDS

The research team at TD expects the Canadian goods trade deficit to narrow modestly to $0.90bn from $0.97bn, reflecting a healthy rebound in export activity only partially offset by stronger imports.

Key Quotes

“The market is downbeat and expects the deficit to widen to $1b.  In the afternoon, we will hear from Governor Poloz in Mexico City, speaking on common links between the Canadian and Mexican economies.  We expect Poloz’s speech to boil down to an endorsement of the current free trade framework, but an audience Q&A could offer more details on the Bank’s projections around various protectionist scenarios. Poloz’s speech will be released at 16:10 ET and there is no press conference.”