Canada March trade balance +2.490B vs +3.90B expected

• Prior was +2.66B (revised to 3.08B)
• Exports $63.63B vs $61.76B expected (prior $59.84B)
• Imports $61.14B vs $58.11B expected (prior $56.76B)
• Canadian surplus with US hits record $12.6B vs $10.9B prior

This is a better report for CAD CAD The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is the fifth most-held reserve currency in the world behind only the US dollar, euro, Japanese yen, and British pound.The CAD is commonly referred to as the Loonie by forex analysts and traders. At the time of writing, the CAD accounts for 2% of all global currency reserves.Its appeal is strong among central banking authorities given Canada’s economic strength, sovereignty, and historic stability.Originally i The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is the fifth most-held reserve currency in the world behind only the US dollar, euro, Japanese yen, and British pound.The CAD is commonly referred to as the Loonie by forex analysts and traders. At the time of writing, the CAD accounts for 2% of all global currency reserves.Its appeal is strong among central banking authorities given Canada’s economic strength, sovereignty, and historic stability.Originally i Read this Term than the headline indicates. That jump up in exports is sustainable so long as commodity prices remain high. There was a surprise rise in oil imports into Canada and suggestions that Canadian refineries on the east coast were stockpiling crude from the Middle East and Africa. Consumer goods were also strong on the import side at +6.5% in an indication of either inventory building or a strong consumer. It could also be variance in a series that's been spotty.

I wouldn't be surprised if Canada eventually gets to +6-8B trade surpluses at some point this decade. If that happens, the loonie will need to make meaningful gains.