Canada Exports
Over 30% of Canada's gross domestic product (GDP) is generated through exports. Canada's most important exports in 2018 were energy products that accounted for 19% of total exports, followed by motor vehicles and parts (15%), consumer goods (11%), metal and nonmetallic mineral products (11%), forestry products, and building and packaging materials (8%), farm, fishing, and intermediate food products (7%), industrial machinery, equipment, and parts (7%), and basic and industrial chemicals (6%). The United States accounts for 74% of total exports and is by far the most important market for Canadian exports, followed by the European Union (8%), of which Germany (3%), China (5%), and Japan and Mexico (2% each).
A higher than expected figure should be seen as positive (bullish) for the CAD while a lower than expected figure should be seen as negative (bearish) for the CAD.
Forex Sentiment (CAD)
| Symbol | Community Trend (Shorts vs Longs) | Symbol Popularity | Avg. Short Price / Distance From Price | Avg. Long Price / Distance From Price | Current Price | |
|---|---|---|---|---|---|---|
| USDCAD |
|
|
1.3679 -12 pips |
1.3720 -29 pips |
1.36908 | |
| AUDCAD |
|
|
0.9023 -36 pips |
0.9120 -61 pips |
0.90587 | |
| CADJPY |
|
|
109.5015 -71 pips |
113.2498 -304 pips |
110.207 | |
| EURCAD |
|
|
1.4853 -164 pips |
1.4890 +127 pips |
1.50170 | |
| GBPCAD |
|
|
1.7480 -59 pips |
1.7620 -81 pips |
1.75394 | |
| NZDCAD |
|
|
0.8276 +132 pips |
0.8228 -84 pips |
0.81442 | |
| CADCHF |
|
|
0.6536 +153 pips |
0.6544 -161 pips |
0.63830 |
News (CAD)
Bank Of Canada Lowers Interest Rates By Another Quarter Point
In a widely expected move, the Bank of Canada on Wednesday announced its decision to lower interest rates by another quarter point. The Bank of Canada said it has reduced its target for the overnight rate by 25 basis points to 4.5 percent, with the bank rate at 4.75 percent and the deposit rate at 4.5 percent.
RTTNews | 2 days ago
Bank Of Canada Lowers Interest Rates By A Quarter Point As Widely Expected
Citing continued evidence that underlying inflation is easing, the Bank of Canada on Wednesday announced it has decided to lower interest rates by 25 basis points. The Bank of Canada reduced its target for the overnight rate to 4.75 percent, with the bank rate at 5.0 percent and the deposit rate at 4.75 percent.
RTTNews | 51 days ago
Bank Of Canada Leaves Rates Unchanged As Inflation Remains 'Too High'
The Bank of Canada announced its widely expected decision to once again leave interest rates unchanged on Wednesday, saying inflation is still "too high." The Canadian central bank held its target for the overnight rate at 5.0 percent, with the bank rate at 5.25 percent and the deposit rate at 5.0 percent.
RTTNews | 107 days ago
