Trade balance data from Canada for October

  • Prior was -4.08B
  • Prior revised to -4.38B

The prior was driven to a record low because a single piece of equipment -- an offshore oil platform delivered on Canada's East Coast that cost $2.9 billion.

More:

  • Imports fell 6.3% to $44.7 billion to lowest since Feb 2015
  • Year over year, total imports were down 1.3%
  • Exports increased 0.5% to $43.6 billion
  • Year over year, total exports increased 1.3%
  • Higher exports of energy products and motor vehicles and parts were partially offset by lower exports of consumer goods and aircraft and other transportation equipment and parts.

Overall this is better than expected but it's partially offset by the lower revision. The Canadian dollar strengthened modestly after the data.