Investing.com – The Canadian dollar climbed to a fresh 2-week high against its U.S. counterpart on Thursday, as traders awaited a key report on the U.S. labor market and in the wake of upbeat Canadian GDP data.
USD/CAD hit 1.0107 during early European trade, the pair's lowest since March 19; the pair subsequently hovered around 1.0109, shedding 0.43%.
USD/CAD was likely to find support at 1.0062, the low of March 19, and resistance at 1.0442, the high of March 2.
Later in the day, the U.S. Labor Department was set to publish an important weekly report on unemployment claims, and an industry group was due to publish a manufacturing purchasing managers' index for the country.
The loonie also rose versus the yen, meanwhile, with CAD/JPY advancing 0.52% to reach 92.54.
On Wednesday, Canada's statistics agency said the country's economy grew 0.6% in January compared with December, led by widespread gains in manufacturing. Economists had expected growth of only 0.5%.
USD/CAD hit 1.0107 during early European trade, the pair's lowest since March 19; the pair subsequently hovered around 1.0109, shedding 0.43%.
USD/CAD was likely to find support at 1.0062, the low of March 19, and resistance at 1.0442, the high of March 2.
Later in the day, the U.S. Labor Department was set to publish an important weekly report on unemployment claims, and an industry group was due to publish a manufacturing purchasing managers' index for the country.
The loonie also rose versus the yen, meanwhile, with CAD/JPY advancing 0.52% to reach 92.54.
On Wednesday, Canada's statistics agency said the country's economy grew 0.6% in January compared with December, led by widespread gains in manufacturing. Economists had expected growth of only 0.5%.