Canada posts second trade surplus since 2016, $0.76 billion in May

"Canada's merchandise trade balance with the world was in a surplus position in May for the second time since December 2016," Statistics Canada reported on Wednesday.

"The $762 million surplus in May followed a $1.1 billion deficit in April. Exports rose 4.6% in May, in part due to an increase in exports of motor vehicles. Imports were up 1.0%, mainly on higher imports of aircraft. In real (or volume) terms, exports increased 4.0% and imports were up 1.2%."

The USD/CAD turned south and broke below the 1.31 mark after this data and was last seen losing 0.12% on the day at 1.3090.