Forex – USD/CAD Slips Lower Despite Weak Canadian Data

© Reuters. Broadly weaker greenback loses ground vs. loonie – The U.S. dollar slipped lower against its Canadian counterpart on Monday, despite the release of downbeat Canadian data as the U.S. government shutdown continued to dampen demand for the greenback.

was down 0.29% at 1.2457 by 09:30 a.m. ET (13:30 GMT).

Statistics Canada reported on Monday that wholesale sales rose in November, disappointing expectations for an increase of 1.0%.

Wholesale sales gained 1.6% in October, whose figure was revised from a previously estimated 1.5%.

But the greenback remained under pressure as entered a third day on Monday after the Senate failed to reach a deal Sunday night to fund government operations.

The Senate was planning to vote at 12:00 p.m. ET Monday (17:00 GMT) on a temporary spending measure that will keep the government open through February 8.

Lawmakers have been trying to reach a deal on immigration, which is viewed as crucial to breaking the deadlock.

This is the first U.S. government shutdown since 2013. That year, the government was shut down for 16 days.

The loonie was higher against the euro, with down 0.10% at 1.5256.

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