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Canadian Trade Balance Release Makes For Trade Opportunity

Statistics Canada will be releasing their Trade Balance for Canada on Tuesday, October 6, 2015, at 8:30 AM ET. This can make for a trade opportunity using Nadex USD/CAD spreads. With news trades, the challenging part can be trying to figure out which way the market is going to go. Fortunately, the strategy recommended for this news event can be profitable when the market moves up or down.

The trade balance for a country is significant for a number of reasons. It is the measure of difference in value between imported and exported goods during the reported month. If the number is positive then more goods were imported than exported. Foreigners must pay for the nation’s exports with the nation’s currency; therefore, the foreigners must first purchase the nation’s currency. Domestic manufacturer’s prices are also affected by export demand.

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