Canada Q4 current account data now out 1 Mar
- CAD - 18.59bln revised up from 19.35bln prev
C/A narrowing in Q4. USDCAD little changed at 1.2858 but seemingly still underpinned above 1.2825-30. Offers/res 1.2880-00.
Says Stats Can:
In the financial account (unadjusted for seasonal variation), transactions in the form of currency and deposits led the inflow of funds into the economy in the quarter as portfolio and direct investment activity mostly offset each other.
For the year 2017, the current account deficit reached $63.9 billion, which was $1.4 billion less than the deficit recorded in 2016. In the financial account, transactions in securities generated a significant net inflow of funds in 2017, which was largely offset by an outflow from direct investment transactions as direct investment abroad exceeded direct investment in Canada.
Full report here
The current account, released by Statistics Canada, is a net flow of current transactions, including goods, services and interest payments into and out of Canada. A current account surplus indicates that the flow of capital into Canada exceeds the capital reduction and vice versa.
