Canada: Manufacturing Sales rise 0.9% in December vs. 0.6% expected

• Manufacturing Sales in Canada rose more than expected in December.
• USD/CAD pair trades deep in the negative territory around mid-1.2600s.

Manufacturing Sales in Canada increased by 0.9% in December to $54.2 billion, the data published by Statistics Canada revealed on Monday. This reading followed November's decline of 0.4% and came in better than the market expectation for an increase of 0.6%.

"On a quarterly basis, sales rose 1.1% in the fourth quarter, while manufacturing sales in volume terms edged down 0.2%," the publication further read.

Market reaction

The USD/CAD pair inched slightly lower after this data and was last seen losing 0.33% on a daily basis at 1.2654.