- Canada posted a surprise trade deficit in March.
- USD/CAD pair posts strong daily gains above 1.2300 after the data.
Canada registered a merchandise trade deficit of C$1.1 billion with the world in March, the monthly data published by Statistics Canada revealed on Tuesday. This reading worse than analysts' estimate for a surplus of C$0.7 billion.
"In March, Canada's imports posted a significant increase of 5.5%, while exports edged up 0.3%," the publication further read.
The USD/CAD pair edged slightly lower from the daily high it set at 1.2346 after this data and was last seen trading at 1.2325, rising 0.4% on a daily basis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.