Canadian Current Account Deficit Q2 - $2.33 billion over consensus | StatsCan Releases Balance of Payments

Just out Canada's Q2 Current account deficit coming in at $15.33 Billion, well over the $13 billion consensus. 

The full report is posted on the StatsCan website: Canada's balance of international payments
Also posted on www.bloomberg.com : Canada Second Quarter Current Account Report Text

 The obvious culprit is the Canadian dollar which has been staying north of the parity mark for some time.

Above is the CADUSD over the same period of time as the Current Account chart above 2007 - Q2 2011.  A definitive break in correlation occurs around Q1 2009, leading to a persistent downward pressure over the past 2 years.



Another interesting chart is Canada's Foreign Direct Investment

Q2 brought us the highest level of Acquisition of Direct Investment Interest since Q1 of 2008.