Following the dip in crude oil prices on the day, the USD/CAD has retained upside momentum ahead of the FOMC minutes. Furthermore, trade balance data from Canada showed a larger-than-expected narrowing of the February 2021 trade surplus, Trade surplus registered at C$1.0 billion, which was less than the C$1.3 billion that the markets expected. It was also less than the previous month’s figure of C$1.2 billion. The combination of lower crude oil prices and the downbeat trade balance data served to put the Loonie under pressure on the day, allowing the USD/CAD to add 0.40% to its value on the day. This extends the ... (full story)