The Canadian Dollar was almost unchanged against the Greenback on the country’s wholesale sales report. The USD/CAD currency pair ignored the report to rise 1 base point, remaining in the 1.2465 area.
The value of Canada’s wholesale sales increased for the second month in succession in November amid wide gains across food, vehicle and other sectors. Statistics Canada stated that the country’s wholesale trade expanded 0.7% in the reported month, which was shy of expectations for a 1% rise, following an upwardly revised 1.6% previously. The wholesale sales report tends to be overlooked by markets, despite its bigger weight in the country’s GDP than the closely monitored retail sales. Canadian retail sales data is due on Thursday.
