Investing.com – The U.S. dollar was up against its Canadian counterpart on Thursday, rising to hit a fresh daily high, after a flurry of better-than-expected U.S. economic data.
USD/CAD hit 1.0289 during European afternoon trade, a daily high; the pair subsequently consolidated at 1.0277, gaining 0.16%.
The pair was likely to find support at 1.0215, Tuesday’s low, and resistance at 1.0373, the high of September 10.
Earlier in the day, official data showed that U.S. initial jobless claims fell to a seasonally adjusted 450K in the week ending September 10, after falling to a revised 453K in the preceding week.
Analysts had expected initial jobless claims to rise to 460K in the week ending September 10.
Meanwhile, a separate report also showed that U.S. producer price inflation increased more-than-expected in August, rising by a seasonally adjusted 0.4%, after rising by 0.2% in July.
The loonie was also down against the euro, with EUR/CAD gaining 0.56% to hit 1.3424.
Also Thursday, official data showed that net foreign investment in the U.S. rose unexpectedly in July.
USD/CAD hit 1.0289 during European afternoon trade, a daily high; the pair subsequently consolidated at 1.0277, gaining 0.16%.
The pair was likely to find support at 1.0215, Tuesday’s low, and resistance at 1.0373, the high of September 10.
Earlier in the day, official data showed that U.S. initial jobless claims fell to a seasonally adjusted 450K in the week ending September 10, after falling to a revised 453K in the preceding week.
Analysts had expected initial jobless claims to rise to 460K in the week ending September 10.
Meanwhile, a separate report also showed that U.S. producer price inflation increased more-than-expected in August, rising by a seasonally adjusted 0.4%, after rising by 0.2% in July.
The loonie was also down against the euro, with EUR/CAD gaining 0.56% to hit 1.3424.
Also Thursday, official data showed that net foreign investment in the U.S. rose unexpectedly in July.