Canada: Wholesale Sales decline by 1.3% in December vs. -1.6% expected

• 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.