Canada: International trade surplus falls to C$2.66B in February versus C$2.9B expected

According to the latest figures released on Tuesday by Statistics Canada, the Canadian Trade surplus fell slightly to C$2.6B in February from C$3.12B a month earlier, larger than the expected drop to C$2.9B. But that masked an increase in both imports and exports, with the former coming in at C$56.08B in February up from C$54B the month prior and the latter coming in at $58.75B from C$57.12B a month earlier. 

Market Reaction

The loonie did not react to the latest trade figures, though continues to trade with a bullish bias against the US dollar with USD/CAD recently pushing below 1.2450.