Deficit spikes to $2 billion in November
The Canadian dollar was higher early Friday after new data showed that the country's trade deficit with the world jumped in November.
The loonie rose 0.12 of a cent to 101.69 cents US before stock markets opened.
In the morning, a report from Statistics Canada said the country's trade deficit with the world ballooned to $2 billion in November from $552 million in October as merchandise imports rose 2.7 per cent and exports fell 0.9 per cent.
"It looks like trade will take another bite out of already weak economic growth," said Sal Guatieri, senior economist at BMO Capital Markets in a note.
"Total exports are now 6.3 per cent below year-ago levels, the worst performance in three years, while imports are flat."
Commodities were weaker, with February crude down 47 cents to $93.35 a barrel on the New York Mercantile Exchange.
Gold prices backtracked with the February contract down $4 to US$1,674 an ounce.
Read more Business News
- Burning pole cuts powerWest Kelowna - 3:12 pm
- Upgrades at Glen Canyon parkWest Kelowna - 3:15 pm
- Fundraising effort with a twistKelowna - 5:00 pm
- Search on for missing manWest Kelowna - 4:00 pm
|QHR Technologies Inc||1.19||0.00|
|Anavex Life Sciences||0.24||0.00|
|Copper Mountain Mining||2.91||-0.05|
|Sunrise Resources Ltd||0.025||0.00|
|Mission Ready Services||0.25||+0.01|
There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...
Photo: ContributedI would call it a joy ride... You see a planned project or business has a destination. It may be an ongoing revenue stream, it may be a business value or an exit strategy. If you don...
Establishing a joint account may seem like a great strategy at first glance. However, there are many factors that must be considered before taking this action. This article will explore the use of &ls...