Canadian Feb trade deficit $0.98B vs $2B expected

Highlights of the Canadian international merchandise trade report:

• In Jan, the trade deficit was $2.45B (revised to -$1.4B)
• Exports +0.4% to $43.5B
• Imports -0.7% to $44.5B

This is a strong report with good revisions but USD/CAD is focused on the US side of the equation and USD is stronger on good figures released at the same time. Last at 1.2650, up a handful of pips since the data.