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Forex News: Trade Balance higher than expected for both USD and CAD

Posted by Mr. Danish FX on Tue, 03/11/2008 - 7:37am in

The Trade Balance figures for both the USD and CAD were released both higher than expected. 

The USD Trade balance came out at -58.2B from the previously revised -57.9B.  This number was forecast at -59.5B.

The CAD Trade Balance came out at 3.3B from the previous 2.4B.  This number was forecast at 2.4B. 

This number measures the difference in value between imports and exports.  A rising trend typically has a positive effect on that nation's currency. 

In addition, CAD New Housing Price Index m/m was released higher than expected at .6% from the previous .1%.  This was forecast at .1%.  This number measures the monthly changes in the selling price of new residential homes.

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