Canada: Looking for a narrowing of the trade surplus to $0.40bn in January - TDS

Analysts at TDS explain that Canada’s international merchandise trade for January will give us our first update on Q1 tracking and TD is below the market and looks for a narrowing of the trade surplus to $0.40bn from $0.92bn in December (consensus: $0.75bn).

Key Quotes

“This reflects a nominal gain in both import and export activity, with the former outpacing the latter. Export gains are expected to be driven by energy products, which should leave non-energy exports only modestly higher. Ivey PMI will be released later at 10:00 ET; markets expect the index to partially recover from its decline in January with a rebound to 58.5.”