In the June Quarter, The Current Account Deficit Increased to 1.1% of GDP, Totaling $9.2 Billion

Experts predict that rising oil prices will drive the Canadian dollar higher in the second quarter.

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The trade deficit increased sequentially from $52.6 billion in Q4 FY24 to $56.6 billion in April-June 2023 (Q1 FY24).

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According to Aditi Nayar, chief economist at ICRA, CAD fell short of the rating agency’s expectations.

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