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Canada's trade deficit narrowed to $370 million in December from $1.2 billion in November, the data published by Statistics Canada showed on Wednesday.
"Canada's merchandise exports rose 1.9% in December, mostly on higher crude oil exports, while imports edged up 0.2%," the publication read. "The trade deficit totalled $18.3 billion in 2019, the smallest deficit since 2014, when the last annual surplus was observed."
The USD/CAD pair edged lower on the upbeat data and was last seen trading at 1.3275, where it was virtually unchanged on a daily basis.
