07:30 AM EDT, 05/29/2025 (MT Newswires) -- Canada will release the Q1 current account data and the Survey of Employment, Payrolls and Hours (SEPH) figures for March both at 8:30 a.m. ET Thursday, noted Bank of Montreal (BMO).

Canada's current account deficit likely narrowed to $3.0 billion in Q1 from $5.0 billion in Q4 2024, putting it in line with the past-year norm and equal to 0.4% of GDP while consensus is for $3.3 billion, said the bank. Tariff front-running likely boosted exports to the United States, though this sets the stage for a reversal in Q2 that could shrink the economy.

The March SEPH should confirm the recent tariff-related chill in hiring evident in the timelier household survey, especially in manufacturing, which has shed jobs in three straight months to April, pointed out the bank.

Currency markets are relatively quiet with the Canadian dollar (CAD or loonie) holding at C$1.382, according to BMO.