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Canadian Trade Surplus Narrows in March

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Canada’s merchandise trade surplus unexpectedly narrowed in March, as prices for energy exports fell and industrial goods imports rose the fastest since 1992.

The surplus shrank to C$254 million, Statistics Canada said today in Ottawa. The result was smaller than forecast by any of 19 economists in a Bloomberg Survey, which had a median surplus estimate of C$1.6 billion.

Canada has returned to trade surpluses this year after the global recession triggered the first deficits since 1976 amid slumping automobile production and commodity prices. The Bank of Canada may become the first Group of Seven central bank to raise interest rates on June 1, yields on interest-rate futures show, after the country had economic growth and inflation faster than Governor Mark Carney had predicted.

Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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