# Canadian Dollar Could Soon See Support from Oil Prices as Current Account Deficit Feels the Boost

> Statistics Canada reported the third-quarter current account deficit widened to C$19.3bn from C$15.6bn, driven by lower exports. The Canadian dollar traded mixed against G10 peers after the release, with analysts citing a significant discount to the greenback.

- Date: 2017-11-30 · published 2017-11-30T12:00:00.000Z
- Category: report · region Canada · magnitude low
- Page: https://feedsoft.ai/events/68204-canadian-dollar-could-soon-see-support-from-oil-prices-as-current-account
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A wider deficit signals weaker demand for the loonie, which in turn makes Canadian-origin feed ingredients cheaper in US dollar terms.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/cad/8106-the-canadain-dollar-exports-and-oil

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.