The Greenback strengthened against the Loonie following the release of the report on Canadian wholesale sales. The USD/CAD currency pair jumped 23 base points, reaching 1.2627.
The volume of Canada’s wholesale sales decreased after the downwardly-revised 0.3% gain registered in the prior month, closing the year 2017 in red. Statistics Canada stated that the country’s wholesale trade declined 0.5% in the reported month, representing the first drop in the last three months. The move was driven by weaker demand in personal and household goods and miscellaneous subsectors. In terms of volume, the actual wholesale sales tumbled 0.9%.
