Trade deficit narrowed to $370 million in December
Fundamental Forex Analysis

Trade deficit narrowed to $370 million in December

  • Canada’s International Merchandise Trade came in at -$0.37 billion.
  • USD/CAD pair continues to trade below 1.33 after data.

Canada’s trade deficit narrowed to $370 million in December from $1.2 billion in November, the data published by Statistics Canada showed on Wednesday. 

“Canada’s merchandise exports rose 1.9% in December, mostly on higher crude oil exports, while imports edged up 0.2%,” the publication read. “The trade deficit totalled $18.3 billion in 2019, the smallest deficit since 2014, when the last annual surplus was observed.”

USD/CAD reaction

The USD/CAD pair edged lower on the upbeat data and was last seen trading at 1.3275, where it was virtually unchanged on a daily basis.

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