Canada October trade balance +2.97B vs +1.60B expected

<p>This is a final data point ahead of the Bank of Canada decision.</p><ul><li><a href="https://www.forexlive.com/news/canada-september-trade-balance-204b-vs-100b-estimate-20231107/" target="_blank" rel="follow">Prior </a>+2.04B</li><li>Exports C$ 65.98B versus 67.03B last month</li><li>Imports C$ 63.01B versus 64.99B last month</li><li>Exports +0.1% vs +2.7% prior</li><li>Imports -2.8% vs +1.0% prior</li></ul><p>This is a good number for Q4 growth but it's not ideal when trade numbers beat due to falling imports as it highlights a slowdown in demand.</p><p>The Bank of Canada decision is due at 10 am ET.</p><p>Details:</p><ul><li>Imports fell in 8 of 11 product sectors led by metal and non-metallic mineral products, which declined 14.7%</li><li>Imports of motor vehicles and parts fell 5.8% in October, which is likely related to the auto strike</li><li>Exports of aircraft and other transportation equipment and parts rose 15.0%</li><li>Energy product exports -1.2%</li></ul>

This article was written by Adam Button at www.forexlive.com.