Canada’s international trade surplus narrowed unexpectedly in February.
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- Canada’s international trade surplus narrowed unexpectedly in February.
- USD/CAD trades virtually unchanged on the day at around mid-1.3400s.
Canada’s merchandise trade surplus with the world declined to C$0.42 billion in February from to C$1.2 billion in January, Statistics Canada reported on Wednesday. This reading came in worse than the market expectation for a surplus of C$1.8 billion.
“Exports were down 2.4%, while imports decreased 1.3%,” Statistics Canada further noted in its publication. “The February surplus is close to the typical bounds for monthly revisions to imports and exports.”
USD/CAD has erased its daily gains in the early American session and was last seen trading flat on the day at around 1.3450.
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