© Reuters. The USD/CAD slips after the figures
Investing.com – The u.s. dollar lost ground against its canadian counterpart on Wednesday, while the canadian data were optimistic, supported the local currency, and that the progress achieved in the framework of the tax reform u.s. has not been a rise in the dollar.
The volumes of transactions are expected to become increasingly thin throughout the week, before the Christmas holidays.
The USD / CAD was down 0.25% to 1,2846 before 9.30 am (13.30 GMT).
Statistics Canada reported earlier that wholesale sales in Canada rose 1.5% in October, beating expectations of a 0.5% increase and after a decline of 1.1% in the previous month.
The greenback showed little reaction after the House of representatives has approved on Tuesday the largest revision of the tax in u.s. in 30 years.
For reasons of procedure, another vote will take place on Wednesday, but it is still regarded as a further step towards the implementation of a major overhaul of the u.s. tax.
The Senate vote was to take place Thursday.
The aussie is advancing against the euro, with EUR / CAD down 0.18% to 1,5221.