Canada: International trade surplus narrows to $1.04 billion in February

• Canada posted international trade surplus for second straight month in February.
• USD/CAD continues to trade in the positive territory above 1.2600.

Canada's merchandise trade surplus with the world narrowed to $1,04 billion in February from $1.2 billion in January, the monthly data published by Statistics Canada revealed on Wednesday. This reading came in slightly better than analysts' estimate for a surplus of $1 billion.

"In February, Canada's merchandise exports decreased by 2.7%, while imports fell 2.4%," the publication further read. "Canada's trade deficit with countries other than the United States widened from $4.7 billion in January to $5.7 billion in February."

Market reaction

This report was largely ignored by market participants and the USD/CAD pair was last seen gaining 0.45% on the day at 1.2620.