The USD/CAD exchange rate was little changed on the Canadian wholesale sales report, failing to spoil Friday gains. The Greenback lost 0.03% against the Canadian Dollar to remain in the 1.2640 area.
Statistics Canada revealed that the country’s wholesale sales grew at a weaker-than-expected pace of 0.5% in August, following an upwardly revised 1.7% gain in the prior month. The main contributors were higher sales of household and private goods, as well as in the motor vehicle subsector. Though, the weak reading provided further signs that the Canadian economy entered the stage of slowdown. In this regard, the Bank of Canada is widely expected to kept interest rates unchanged on its Wednesday meeting, which could cause some volatility in the pair.
