Investing.com – The U.S. dollar hit an intra-low against its Canadian counterpart on Monday, following the release of mixed U.S. data on housing and factory orders.
USD/CAD hit 1.0202 during European afternoon trade, an intra-day low, the pair subsequently consolidated at 1.0219, gaining 0.25%.
The pair was likely to find support at 1.0146, the low of August 6 and resistance at 1.0312, last Friday’s high.
Earlier in the day, industry data showed that U.S. pending home sales rose more-than-expected in August.
The National Association of Realtors said its pending home sales index increased 4.3% in August, after rising by a revised 4.5% in July. Analysts had expected the pending home sales index to rise by 2.8% in August. Year-on-year, the National Association of Realtors pending home sales index was down 18.4%.
Commenting on the report NAR chief economist Lawrence Yu said, “Attractive affordability conditions from very low mortgage interest rates appear to be bringing buyers back to the market”.
Elsewhere, a seperate report showed that U.S. new factory goods orders declined more-than-expected in August.
Meanwhile, the loonie was up against the euro, with EUR/CAD shedding 0.44% to hit 1.4003.
Later Monday, Federal Treserve chairman Ben Bernanke was due to give a speech. His coments would be closely scrutinized for any clues to the future direction of monetary policy.
USD/CAD hit 1.0202 during European afternoon trade, an intra-day low, the pair subsequently consolidated at 1.0219, gaining 0.25%.
The pair was likely to find support at 1.0146, the low of August 6 and resistance at 1.0312, last Friday’s high.
Earlier in the day, industry data showed that U.S. pending home sales rose more-than-expected in August.
The National Association of Realtors said its pending home sales index increased 4.3% in August, after rising by a revised 4.5% in July. Analysts had expected the pending home sales index to rise by 2.8% in August. Year-on-year, the National Association of Realtors pending home sales index was down 18.4%.
Commenting on the report NAR chief economist Lawrence Yu said, “Attractive affordability conditions from very low mortgage interest rates appear to be bringing buyers back to the market”.
Elsewhere, a seperate report showed that U.S. new factory goods orders declined more-than-expected in August.
Meanwhile, the loonie was up against the euro, with EUR/CAD shedding 0.44% to hit 1.4003.
Later Monday, Federal Treserve chairman Ben Bernanke was due to give a speech. His coments would be closely scrutinized for any clues to the future direction of monetary policy.