Canadian trade falls off a cliff
— Financial Post (@financialpost) March 6, 2015
Canadian dollar sinks after trade deficit jumps to second biggest on record because of oil’s collapse
The Canadian dollar sank on Friday after Canada reported its second-highest trade deficit on record in January as prices for the nation’s oil shipments plunged.
The deficit widened to $2.45 billion, doubling from a revised trade gap of $1.22 billion in December, Statistics Canada said Friday in Ottawa. Economists surveyed by Bloomberg News had projected a deficit of $1.0 billion.
The Canadian dollar fell almost half a cent to 79.48 US cents.