Canadian Trade Balance

The Canadian Dollar was unfazed Tuesday by official data revealing a sharp increase in the goods trade deficit for November but local economists say the trade numbers may prevent the Loonie from strengthening any further over the coming days.

The Canadian Dollar remained on its back foot Thursday after official data revealed a sharp widening of the trade deficit during October and as markets await a crunch decision about production cuts by the Organization of Petroleum Exporting Countries (OPEC), both of which are key to the outlook for the Loonie.