Canada: Current account balance to deteriorate sharply in Q2 - TDS

Research Team at TDS, expects the Canadian current account balance to deteriorate sharply in Q2 due to weaker export activity since the start of the year.

Key Quotes

“The market looks for the current account deficit to widen to $20.2bn, up from $16.77bn in Q1.

Also on the calendar are industrial and raw material prices for July; both are expected to weaken due to lower commodity prices during the month. The market consensus is for raw material prices to fall by 1.2% m/m while industrial prices should post a modest 0.5% m/m decline.”