WSJ: Canada Dollar Rallies After Strong December Trade Report
TORONTO (Dow Jones)--The Canadian dollar rallied Friday morning, reaching a session high against the U.S. dollar, after news that Canada posted its first trade surplus in 10 months in December.
The U.S. dollar slumped to a session low at C$0.9923, according to data provider CQG, after news that Canada recorded a C$3 billion trade surplus in December, much stronger than the expected C$300 million deficit and the revised C$115 million deficit in November.
Shipments of energy products led the largest exports gain since 1982, far outpacing a modest rebound in imports, Statistics Canada said.
