04:37 AM EDT, 06/26/2024 (MT Newswires) -- CAD/USD weakened slightly on Wednesday ahead of the Canada's preliminary manufacturing and wholesale sales data releases for May.

The pair was last quoted at 1.3667, as investors await the preliminary readings.

Last month's Manufacturing Sales data showed an 1.1% increase to $70.8 billion. Manufacturing sales data measures the change in the overall value of sales made at the manufacturing level. The increase in April was mainly attributable to higher sales of transportation equipment, primary metals, and chemical products.

Wholesale sales data in April showed a 2.4% increase. The data measures the change in the total value of sales at the wholesale level. The Statistics Canada reported wholesale sales excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain grew to $83.3 billion in April.

A higher-than-expected reading should be regarded as positive for the CAD, while a reading lower than expected should be regarded as negative for the CAD.