Canadian dollar hits two-week low as global trade tensions rise GlobeInvestor
The Canadian dollar weakened to a two-week low against the greenback on Thursday as domestic data showed a wider-than-expected trade deficit and as investors feared the trade dispute between the United States and China could escalate.
Canada runs a current account deficit and exports many commodities, including oil, so its economy could be hurt by a slowdown in the global flow of capital or trade.Canada’s trade deficit in March shrank slightly to $3.21-billion as higher energy shipments helped exports increase at a slightly faster rate than imports, Statistics Canada said. The deficit was greater than the $2.45-billion shortfall that analysts had predicted.
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