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Fundamental Forex Analysis

Wholesale Sales rose 0.9% in December vs. 0.5% expected

  • Wholesale Sales in Canada rose more than expected in December. 
  • USD/CAD continues to trade in positive territory, a little below 1.3300.

Wholesale Sales increased 0.9% in December following November’s 1.1% decline, the data published by Statistics Canada showed on Monday. This reading came in better than the market expectation of 0.5%.

“In the fourth quarter, sales declined 1.5%, following 14 consecutive quarterly increases,” the publication read. “Lower sales were recorded in five of seven subsectors, led by the motor vehicle and motor vehicle parts and accessories (-3.1%) and the miscellaneous (-4.0%) subsectors.”

USD/CAD reaction

The USD/CAD pair, which rose above 1.3300 on falling crude oil prices, largely ignored this data and was last seen trading at 1.3285, adding 0.47% on a daily basis.

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