- Canada’s trade deficit narrowed more than expected in November.
- USD/CAD clings to recovery gains, trades below 1.3000.
Canada’s merchandise trade deficit with the world narrowed to $1.1 billion in November from $1.6 billion in October to come in slightly better than the market expectation of $1.15 billion, the monthly data published by Statistics Canada showed on Tuesday.
“Canada’s merchandise exports declined 1.4% in November to $48.7 billion, while imports were down 2.4% to $49.8 billion,” the press release read.
The USD/CAD pair largely ignored this data and was last up 0.2% on a daily basis at 1.2988.
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