The Canadian dollar was little changed against its US counterpart and gained on other most-traded rivals thanks to the strong rally of crude oil — Canada’s most important export commodity.
Prices for crude jumped more than 2%, touching the highest level in three weeks intraday, on the outlook for shrinking global glut.
Meanwhile, Statistics Canada reported that wholesale sales rose 0.1% in January, matching forecasts exactly. The sales were down 0.2% in the previous month.
USD/CAD was little changed at 1.3084 as of 19:41 GMT today. At the same time, EUR/CAD dropped from 1.6135 to 1.6028.
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