Canadian dollar edges higher after retail sales data
The Canadian dollar rose against most currencies on Tuesday, following the release of upbeat economic data, amid optimism about Omicron's developments.
Several European countries, such as the UK, started to see record daily spike in Covid-19 infections due to the Omicron outbreak, which threatens another lockdown and closures.
The White House stated that US President Joe Biden does not plan to impose full lockdown restrictions due to the spread of the Omicron variant in several countries.
Canada's retail sales index rose by 1.6% in November, beating forecasts of 1%.
The core retail sales reading rose 1.3%, missing forecasts of 1.6% during the past month.
As of 17:03 GMT, CAD/USD rose 0.1% to 0.7735, after hitting a high of 0.7744 and a low of 0.7722.
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