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Canada’s Q4 current account deficit widens unexpectedly

Published 03/02/2015, 08:36 AM
Updated 03/02/2015, 08:36 AM
Canada’s current account deficit widens unexpectedly in Q4

Investing.com - Canada’s current account deficit widened unexpectedly in the final three months of 2014, official data showed on Monday.

In a report, Statistics Canada said the country’s current account deficit widened to a seasonally adjusted C$13.9 billion in the fourth quarter from a deficit of C$9.6 billion in the preceding quarter.

This change mainly reflected the deterioration of the trade in goods balance.

Analysts had expected Canada’s current account deficit to narrow to C$7.4 billion in the fourth quarter.

In the financial account, increased foreign currency deposits held in Canada by non-residents was the largest contributor to the inflow of funds into the economy.

USD/CAD was trading at 1.2497 from around 1.2486 ahead of the release of the data.

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