Canadian dollar gains on current account surplus

The Canadian dollar rose against the US dollar by 0.2%, reaching 1.3855, after recording a current account surplus for the first time in four years, amounting to CAD 8.84 billion in the second quarter, supported by increased exports and rising oil prices. This shift is explained by a boost in goods exports, especially energy, despite the risks posed by escalating trade tensions and the impact of tariffs. Additionally, data indicated that the Canadian economy grew at an annual rate of 3.4% during the second quarter, with 10-year bond yields decreasing by approximately 9 basis points since the beginning of the week.

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