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Canada reported a surplus of 0.1 billion in OCtober, significantly more than a deficit of 0.7 billion expected. A non-negative trade deficit was last seen in December 2011.

USD/CAD is dropping a bit, after suffering from a long period of drops.

The US trade deficit for October slid to 40.6 billion, within predictions. It was expected to slide to 40.3 billion dollars from 41.8 billion (before revisions). This is the first report for the fourth quarter. The trade balance is part of the GDP formula.

The US dollar came into this publication a bit stronger after  ADP NFP surprised to the upside with a gain of 215K private sector jobs.

At 15:00, the Bank of Canada publishes its rate decision. In the US, the ISM Non-Manufacturing PMI and new home sales numbers are released.