- Canada posted a larger-than-expected trade surplus on Thursday.
- The loonie did not react to the data, with a focus on Friday’s employment report.
Canada’s merchandise trade surplus with the world expanded to C $ 3.13 billion in November from C $ 2.26 billion in October (which has been revised from C $ 2.09 billion), monthly data released by Statistics Canada on Thursday revealed. This reading beat market expectations for a CAD 2.03 billion surplus. Canadian exports in October increased to C $ 58.57 billion from C $ 56.42 billion in October (which was revised up from C $ 56.18 billion), while imports increased to C $ 55.44 billion from C $ 54.16 billion (which was revised from C $ 54.09 billion).
Market reaction
The loonie did not react to the latest trade figures, and traders focused much more on Friday’s Canadian employment report, which will be watched closely by BoC policy makers.
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