Canada March trade balance +0.97B vs +0.2B expected

• Prior was +0.42B (revised to -0.49B)
• Exports $63.56B vs $64.00B prior
• Imports $62.59B vs $64.48B prior
• Energy exports decreased 5.9%
• Exports of aircraft and other transportation equipment and parts rose 30.8% in March
• Surplus with the US +7.6B vs +8.3B prior

The trade surplus is a bit better but that's overshadowed by a larger negative revision to the prior. Overall these are close enough to the consensus not to be meaningful for the loonie Loonie When we write about the loonie, we're not talking about the craziness of the market. The "loonie" is a nickname for the Canadian dollar (CAD), the official currency of Canada. The name "loonie" comes from the image of a loon on the one-dollar coin. A loon is a duck-like aquatic bird that's revered for its call.The loonie is closely tied to the price of oil, which is one of Canada's major exports. As a result, changes in the price of oil can have a significant impact on the value of the Canadian When we write about the loonie, we're not talking about the craziness of the market. The "loonie" is a nickname for the Canadian dollar (CAD), the official currency of Canada. The name "loonie" comes from the image of a loon on the one-dollar coin. A loon is a duck-like aquatic bird that's revered for its call.The loonie is closely tied to the price of oil, which is one of Canada's major exports. As a result, changes in the price of oil can have a significant impact on the value of the Canadian Read this Term. What's worrisome is the overall slide in trade, which is often a precursor to a slowdown.

Given where oil prices are, expect to see growing Canadian trade deficits in the months ahead.