Canada trade surplus hits four-year high in May
Canada's merchandise trade surplus rose to a four-year high in May, with exports hitting a record C$77.1 billion, driven by metals and non-metallic minerals.
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According to National Bank of Canada strategist Alexandra Ducharme, Canada's merchandise trade surplus reached its highest level in four years during May. Exports surged to a record C$77.1 billion, led by gains in metal ores and non-metallic minerals, while energy exports also contributed.
The stronger-than-expected trade data may provide support for the Canadian dollar, though further details on the breakdown are awaited. The surplus underscores the resilience of Canada's export sector amid global demand fluctuations.
Source: FXStreet Forex News