Canada: International Merchandise Trade surplus increases to 1.92 billion Canadian dollars in January

  • Canada’s international trade surplus increased slightly in January.
  • USD/CAD is trading virtually unchanged on the day at around $1.3700.

Canada’s merchandise trade surplus with the world widened to Can$1.92 billion in January, from Can$1.19 billion in December, Statistics Canada reported on Wednesday. This result exceeded market expectations, which expected a deficit of 0.060 million.

“In January, Canada’s merchandise exports rose 4.2%, while imports rose 3.1%.”

market reaction

USD/CAD’s reaction to these data was largely dovish, with investors awaiting monetary policy announcements from the Bank of Canada. At the time of writing, the pair is largely unchanged at 1.3755.

Source: Fx Street

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