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Global markets: US current account deficit revisits lows

By Commodity News Service Canada

WINNIPEG, March 21 – The following is a glance at the news moving markets globally.

– America’s current account deficit dropped in the fourth-quarter, according to reports out of the country on Tuesday, falling to the lowest level in more than a year.

The current account deficit declined 3.1 per cent to US$112.4 billion. Market watchers say a drop in exports, led by soybeans was partially responsible for the declines.

– Canadian retail sales rose 2.2 per cent to C$46.0 billion in January, led by four subsectors that rebounded from lower sales in December. Excluding sales at motor vehicle and parts dealers, retail sales advanced 1.7 per cent, Statistics Canada said in a report on Tuesday.

After removing the effects of price changes, retail sales in volume terms increased 1.3 per cent.

Sales were higher than analysts had expected, which gave the loonie a boost in early activity.

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