Canada’s Trade Surplus nearly doubles
+ March trade surplus rose 76% to $627 million vs February.
+ Exports rose 3.5% while imports were up 2.8%.
+ Exports of energy products rose 5% and forestry products rose 10.7%.
+ Exports to countries other than the US rose 7.8%.
+ China’s trade surplus was $11.4 billion, nearly 4x greater than expected, due to stronger exports.
+ German exports rose 7.3% to a record $141.1 billion in March.
+ US CPI rose 3.2% YoY in April, largest gain since October 2008, due to fuel and food.
+ Hong Kong Q1 GDP up 7.2%, much stronger than expected.
+ Greek bonds are now rated the same as Lebanon, Belarus and Georgia.
+ Canada’s Industry Minister Tony Clement said he will summon petroleum industry executives to tell a Commons committee how they set gas prices.
+ US Senate Democrats have introduced a bill that would repeal tax breaks for the five biggest oil companies.