actual 0.71, previous -0.99
The event is the Trade Balance for Canada in December. The actual trade balance for this period is 0.71 billion CAD. This figure represents the difference between the value of Canadian exports and imports during the month.
The previous trade balance was -0.99 billion CAD, indicating an improvement in the trade balance compared to the previous period. The estimate for this event was 1 billion CAD, meaning that the actual figure fell short of expectations.
Overall, a positive trade balance (surplus) is generally seen as favorable for the domestic currency (CAD), as it suggests that more goods and services were exported than imported, leading to increased demand for the currency. Conversely, a negative trade balance (deficit) can put downward pressure on the currency.
Given the medium impact of this event, it may lead to some market movement in the Canadian dollar (CAD) as traders and investors react to the new trade balance data.