USD/CAD: Canadian Trade Balance

The US Dollar depreciated against the Canadian Dollar, following the Canadian Trade Balance data release on Friday at 12:30 GMT. The USD/CAD exchange currency rate lost 13 pips or 0.10% right after the release. The Greenback continued trading at the 1.3306 level against the Canadian Dollar.

Statistics Canada released the Canadian Trade Balance data, which came out slightly better-than-expected of negative 1.0B compared with the forecast of negative 1.1B. Note that the US Employment data was released at the same time.

According to the official release: "Canada's exports rose 1.8% in August, mainly due to an increase in exports of energy products and aircraft. Imports were up 1.0%, mostly on higher imports of gold and crude oil. As a result, Canada's merchandise trade deficit narrowed from $1.4 billion in July to $955 million in August."