Canada’s exports over time: Resources and manufactured goods

International trade has played an integral role in Canada’s economic history. Trade affects the economy in a myriad of ways—as a source of industrial production and income growth, and as a means through which Canadians gain access to foreign funds, investment goods, new technologies, and an ever-expanding array of products and services.

Exports in particular contribute substantially to economic growth in Canada. Canadian export flows have evolved over time as trade-oriented sectors responded to shifts in the global demand for Canadian commodities. Both resources and manufactured goods have been important to the development of Canadian export markets. Read more @ https://www150.statcan.gc.ca/n1/pub/11-630-x/11-630-x2017005-eng.htm

9:30pm – CAD will release its Trade Balance. Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation’s exports. Export demand also impacts production and prices at domestic manufacturers;

WHAT DOES OUR TECHNICAL CHART SAYING?

CAD is staring at resistance level, this could be a false breakout. We still see the CAD to be weaker as the bigger issue of tariffs is the continuation of a trade war between Canada and the United States that affects the overall economy, hurts consumer confidence and starts to reduce consumer spending.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.

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