China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Canada recorded a sharp increase in its monthly international trade deficit in November as merchandise exports fell significantly, highlighting ongoing challenges tied to trade diversification and U.S. tariff uncertainty. According to Statistics Canada, the country posted a goods trade deficit of C$2.2 billion in November, a steep rise from an upwardly revised C$395 million deficit in October.
The widening trade gap was largely driven by a sharp decline in exports, particularly in key sectors such as metals, non-metallic mineral products, and automotive manufacturing. Exports of metals and non-metallic goods dropped 24.4% month over month, led by a substantial fall in shipments of unwrought gold. Major declines were seen in exports of unwrought gold to Britain, the United States, and Hong Kong, while overall export volumes slipped 0.9%.
Motor vehicle and auto parts exports also fell sharply, declining 11.6% in November, marking the largest monthly drop in this category in three years. These losses reflect the ongoing impact of U.S. tariffs on Canadian steel, aluminum, automotive products, and lumber—sectors that form a critical backbone of Canada’s export economy.
Although imports edged lower by just 0.1% to C$66.14 billion, reduced purchases of motor vehicles, parts, and energy products contributed to the slight decline. Imports from the United States dropped 5.4%, while exports to the U.S. fell a more modest 1.8%, allowing Canada’s merchandise trade surplus with its largest trading partner to rise to C$6.6 billion in November from C$5.2 billion in October.
Despite this improvement, exports to the U.S. accounted for just over 68% of Canada’s total shipments, down from 76% a year earlier, underscoring a gradual shift toward trade diversification. Imports from non-U.S. countries surged 7.8%, driven mainly by China and Germany, while exports to countries outside the U.S. fell 4.9%, pushing the non-U.S. trade deficit to C$8.8 billion.
Following the data release, the Canadian dollar strengthened, while two-year government bond yields edged lower. The November trade report was delayed due to a prolonged U.S. government shutdown that disrupted data collection.
