- Wholesale Sales in Canada fell less than expected in December.
- USD/CAD edges higher toward mid-1.2700s after the data.
Wholesale Sales in Canada fell by 1.3% in December to $66.5 billion, the monthly report published by Statistics Canada showed on Friday. This reading followed November’s increase of 0.7% and came in better than the market expectation for a decrease of 1.6%.
“The decrease was attributable to sharply lower sales of motor vehicles and motor vehicle parts and accessories; and machinery, equipment and supplies,” the publication read. “These declines were modestly offset by higher sales in the miscellaneous subsector.”
Market reaction
The USD/CAD pair pushed higher after this report and was last seen gaining 0.37% on a daily basis at 1.2750.
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