• Canada posted a bigger than expected trade surplus on Thursday. 
• The Canadian dollar did not react to the data, with focus on Friday's jobs report. 

Canada's merchandise trade surplus with the world widened to C$3.13 billion in November from C$2.26 billion in October (which has been revised up from C$2.09 billion), monthly data published by Statistics Canada revealed on Thursday. This reading beat market expectations for a surplus of C$2.03 billion. Canadian exports in October rose to C$58.57 billion from C$56.42 billion in October (which was revised up from C$56.18 billion), whilst imports rose to C$55.44 billion from C$54.16 billion (which was revised up from C$54.09 billion). 

Market Reaction

The Canadian dollar did not react to the latest trade figures, with traders much more focused on Friday's Canadian jobs report, which will be closely watched by BoC policymakers.