Loonie pulls back from current account deficit lows

FXstreet.com (London) – The Canadian dollar has recovered some ground after falling to intraday lows at CAD1.0571. USD/CAD has clawed back ground on choppy trading, currently down 0.07 percent at CAD1.0591.

The Canadian dollar fell on a report from Statistics Canada showing that the country’s current account deficit narrowed less than expected in the third quarter, with export growth subdued.

The Canadian dollar has been hit by a downturn in demand from the US, is biggest trading partner.

Canada registered a CAD15.5bn current account deficit in the third quarter, declining from a revised C$15.9 billion second-quarter print, but still coming in higher than …read more