Investing.com - Canada’s current account deficit narrowed unexpectedly in the third quarter, official data showed on Thursday.
In a report, Statistics Canada said the country’s current account deficit narrowed to a seasonally adjusted C$8.4 billion in the July-to-September period from a deficit of C$9.9 billion in the preceding quarter.
Analysts had expected Canada’s current account deficit to widen to C$10.3 billion in the third quarter.
This reduction reflected a higher goods surplus and lower services and investment income deficits.
In the financial account, unadjusted for seasonal variation, foreign direct investment strengthened and was the largest contributor to the inflow of funds in the economy in the quarter.
USD/CAD was trading at 1.1241 from around 1.1250 ahead of the release of the data.