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Canadian wholesale sales rise significantly less-than-expected

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Forex Pros - Canadian wholesale sales rose significantly less-than-expected in March, official data showed on Wednesday.

In a report, Statistics Canada said wholesale sales eased up by 0.1% in March, after declining by -0.9% in February, whose figure was revised down from a decline of -0.6%.

Analysts had expected Canadian wholesale sales to rise by 1.2% in March.

Canadian wholesale sales totaled CAD46.8 billion in March. Gains in the miscellaneous and the motor vehicle and parts subsectors in March were offset by declines in the machinery, equipment and supplies and the food, beverages and tobacco subsectors, amongst others.

Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD climbing 0.23% to hit 0.9745.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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