USD/CAD slides on narrower Canadian trade deficit. What's next
Canadian trade deficit narrows
The market responded by boosting the Canadian dollar. USD/CAD fell to 1.2987 from 1.3020.
Signals from the market were skewed because the data landed shortly after China announced it was prepared to retaliate against US tariffs with levies on $60 billion of US goods.
Technically, USD/CAD is approaching this week's low of 1.2975.
I made the case for Canadian dollar strength yesterday here.