Canadian Q-1 current account deficit came in at C$ 9.06 bln versus a revised C$ 7.76 bln in Q-4 2008. This is better than the median forecast of C$ 10.4 bln.
The hope will be that with the global economy showing signs of recovery, and commodity prices moving higher, that it won’t be long before we see a turnaround and the deficit start to come down at a decent clip.
Canadian dollar is playing a blinder, USD/CAD presently down at 1.0990, pretty much the session low.
