Quotes from Capital Economics:- With crude oil prices still in freefall, the deterioration in the monthly trade balance to a deficit of $0.6bn in Nov, from $0.3bn, is unfortunately only the start of what could develop into a much bigger shortfall. (Data released on Wednesday.) – For a big net exporter of energy like Canada, which could only keep its trade balanced when oil prices were above $100 per barrel, the slump to $50 is very bad news. – The Canadian dollar’s decline will help, but the trade deficit is still likely to widen markedly over the next few months.
The material has been provided by InstaForex Company – www.instaforex.com