The Canadian Dollar weakened against the Greenback, following Canadian Trade Balance data release on Wednesday. The USD/CAD currency pair gained only one pip, or 0.01%, to continue fluctuating in the 1.2875 area.
The Statistics Canada released International Merchandise Trade data that came out better-than-expected of negative 1.9B, compared to the negative 4.1B in the previous period.
“Today’s trade data suggest that net trade started Q2 as a positive contributor to GDP. The narrower-than-expected deficit has been positive for the loonie,” said Royce Mendes, an economist at CIBC Capital Markets.
