Canada trade surplus beats expectations
Canada recorded a trade surplus of $5.35 billion, exceeding market expectations of $5 billion.
The previous period's surplus was revised upward from $4.20 billion to $5.35 billion. As a result, the latest reading was unchanged from the revised previous figure.
The larger-than-expected surplus provided a positive signal for Canada's external trade outlook. However, the upward revision to the previous reading indicated that the trade balance had not improved further on a period-over-period basis. The data could influence the Canadian dollar and the Bank of Canada's (BoC) assessment of economic conditions.
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