- Largest surplus since 2008
- Prior was -0.14B (revised to -$1.58B)
- Exports $56.6B vs $56.7B prior
- Imports $54.0B vs $58.3B prior
The loonie has been stuck because of risk aversion but Canada's terms of trade are improving by the hour. In terms of this report, the revision to the prior suggests more of a timing change of some imports rather than anything fundamental. In general, it's much better to see a trade surplus on rising exports rather than falling imports (like today).
