Currency Note Worldwide

Positive news for the Canadian dollar

By Ricky Bean May 21st, 2015

The Canadian dollar gained against the euro yesterday thanks to the release of Canadian wholesale sales figures, which rose by 0.8% to hit $53.9bn in March – following two consecutive monthly declines. Five of the seven subsectors recorded showed higher sales in March, with building material and supplies recording the largest gain – a 2.8% increase to $7.6bn. Food, beverage and tobacco was up for a fifth consecutive month – a 1.5% increase to $7.7bn. Sales also rose across three provinces, with Ontario experiencing the biggest gain.

The positive data looks set to continue from Canada as we enter the summer – when economic activity here, especially in construction, normally increases.

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