February 07, 2023 12:59 GMT
CANADA: Trade Balance Before Gov. Macklem
- Initial interest in the merchandise trade balance for Dec (0830ET), expected to dip further into deficit with -C$0.5B after November’s surprise decline and downward revisions to October’s surplus.
- More focus on Macklem speaking later, with remarks 1230ET and the speech starting 1245ET (straddling Powell at 1240ET) before media Q&A 1400ET.
- Unclear how much new can be offered having indicated a pause on Jan 25 whilst wanting to see an accumulation of evidence, but it will be interesting to see if recent revisions to softer employment and wage growth in the latest three months of data are noted.