Canada: International trade deficit narrowed to $1.1 billion in November

• Canada's trade deficit narrowed more than expected in November.
• USD/CAD clings to recovery gains, trades below 1.3000. 

Canada's merchandise trade deficit with the world narrowed to $1.1 billion in November from $1.6 billion in October to come in slightly better than the market expectation of $1.15 billion, the monthly data published by Statistics Canada showed on Tuesday.

"Canada's merchandise exports declined 1.4% in November to $48.7 billion, while imports were down 2.4% to $49.8 billion," the press release read.

The USD/CAD pair largely ignored this data and was last up 0.2% on a daily basis at 1.2988.