• Canada posted a trade surplus with the world in April.
• USD/CAD continues to move sideways in a tight range below 1.2100.

Canada’s merchandise trade surplus with the world widened to C$0.59 billion in April from a deficit of C$1.35 billion in March, the monthly data published by Statistics Canada revealed on Tuesday. This reading came in better than the analysts’ estimate for a deficit of C$0.8 billion.

“In April, Canada’s merchandise imports fell 4.7%, while exports decreased 1.0%,” the publication read. “Both declines were attributable in large part to significant decreases in trade of motor vehicles and parts.”

Market reaction 

The USD/CAD pair showed no reaction to these figures and was last seen trading flat on the day at 1.2079.