Investing.com – The U.S. dollar surged to a 2-day high against its Canadian counterpart on Monday after the release of mixed U.S. economic data.
USD/CAD hit 1.0466 during European afternoon trade, the pair's highest since August 12, the pair subsequently consolidated at 1.0464, gaining 0.40%.
The pair was likely to find support at 1.0350, last Friday's low and resistance at 1.0494, the high of August 12.
Earlier in the day, official data showed that the New York State manufacturing index rose less-than-expected in August, rising to 7.1, up from 5.1 in June.
Analysts had expected the index to rise to 8.1 in August.
Meanwhile, in a separate report, the U.S. Department of the Treasury said that net foreign purchases of long-term securities were USD 44.4 billion in June, after falling to a revised USD 35.3 billion in May.
Economists had expected purchases of long-term securities to increase to USD 36.3 billion in June.
The loonie was also down against the euro, with EUR/CAD gaining 0.79% to hit 1.3394.
Last week, official data showed that Canada's trade deficit widened unexpectedly in June.
USD/CAD hit 1.0466 during European afternoon trade, the pair's highest since August 12, the pair subsequently consolidated at 1.0464, gaining 0.40%.
The pair was likely to find support at 1.0350, last Friday's low and resistance at 1.0494, the high of August 12.
Earlier in the day, official data showed that the New York State manufacturing index rose less-than-expected in August, rising to 7.1, up from 5.1 in June.
Analysts had expected the index to rise to 8.1 in August.
Meanwhile, in a separate report, the U.S. Department of the Treasury said that net foreign purchases of long-term securities were USD 44.4 billion in June, after falling to a revised USD 35.3 billion in May.
Economists had expected purchases of long-term securities to increase to USD 36.3 billion in June.
The loonie was also down against the euro, with EUR/CAD gaining 0.79% to hit 1.3394.
Last week, official data showed that Canada's trade deficit widened unexpectedly in June.