Canada trade deficit barely budges in September

The dollar had dropped below the 3.80 level after Trump nominated Jerome H. Powell as the next chair of the Federal Reserve Thursday evening. Average hourly earnings also remained unchanged.

With a 261,000 increase to the non-farm payrolls, the result still showed US labor markets in good health, easily bouncing back from Hurricanes Harvey and Irma that idled the USA energy hub in southeast Texas and forced millions of Floridians to flee their homes. August's trade deficit was revised up to $42.8 billion from the previously reported $42.4 billion.

Exports of pharmaceuticals, a volatile category, fell by $1 billion.

The department said while it could not isolate the impact of hurricanes Harvey, Irma and Maria on the trade data, the effects were "embedded in source data".

Exports were down for a fourth consecutive month since a record high in May, despite increases in most categories, to Can$43.6 billion.

On the other side of the equation, a $1.1bn increase in crude oil shipments drove growth in goods exports, followed by a $0.8bn rise in those of "other goods".

As a result, Canada's trade surplus with the United States fell to Can$2.2 billion. Imports of non-petroleum imports were the highest since March 2015.

Imports slipped by 0.3 percent to C$46.74 billion on widespread declines.

The big picture: Despite the increase in September, the USA trade deficit actually fell in the third quarter and gave a boost to gross domestic product.

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