Investing.com - Canadian wholesale sales rose significantly more than expected in December, easing concerns over the health of the economy, official data showed on Wednesday.
In a report, Statistics Canada said wholesale sales increased by a seasonally adjusted 2.5% in December, easily surpassing forecasts for a gain of 0.4%. Wholesale sales in November declined by 0.3%.
Higher sales were recorded in six of seven subsectors, representing 80% of wholesale sales. The motor vehicle and parts subsector as well as the miscellaneous subsector led the gains.
USD/CAD was trading at 1.2438 from around 1.2438 ahead of the release of the data.