Forex News: Canadian Trade Balance Due at 8:30 AM

At the same time as the US Trade Deficit,  the Canada Trade Surplus for February will be announced.  Last month the surplus rose to 3.26 billion Canadian dollars from 2.293 billion in December.  This month the expectation is for another rise to 3.4billion as increased price for oil and commodities contributes to higher export sales.   Although off the 9 year low surplus in December, there is worry that the slower growth in the US may eventually lead to the first trade deficit in Canada since 1976.  Much will be dependent on the price and demand for of oil as the US still imports a large amount of oil from Canada and higher prices, means higher exports.