Investing.com - The U.S. dollar was almost unchanged against its Canadian counterpart on Friday, but remained supported after disappointing Canadian economic growth data and as markets awaited the release of U.S. data later in the day.
USD/CAD hit 1.0521 during early U.S. trade, the session low; the pair subsequently consolidated at 1.0528, easing 0.06%.
The pair was likely to find support at 1.0480, Thursday's low and resistance at 1.0574, the high of July 9.
Official data showed that Canada's gross domestic product contracted by 0.5% in June, more than the expected 0.1% contraction, after a 0.2% expansion the previous month.
In the U.S., the Bureau of Economic Analysis said that personal spending rose less-than-expected in July, gaining 0.1% after an upwardly revised 0.6% increase the previous month. Analysts had expected personal spending to rise 0.3% last month.
In addition, data showed that U.S. core consumer prices, excluding food and energy, rose 0.1% in July, confounding expectations for a 0.2%, following a 0.2% increase in June.
Meanwhile, markets were still jittery amid concerns over an impending U.S.-led military strike against Syria, following the alleged use of chemical weapons.
The White House said on Thursday that President Barack Obama will decide on a response to Syria based on U.S. interests, but will continue to consult with Britain despite the British Parliament's "no" vote to a military intervention.
The loonie was higher against the euro with EUR/CAD shedding 0.27%, to hit 1.3917.
Later in the day, the U.S. was to release a report on manufacturing activity in Chicago and revised data from the University of Michigan on consumer sentiment.
USD/CAD hit 1.0521 during early U.S. trade, the session low; the pair subsequently consolidated at 1.0528, easing 0.06%.
The pair was likely to find support at 1.0480, Thursday's low and resistance at 1.0574, the high of July 9.
Official data showed that Canada's gross domestic product contracted by 0.5% in June, more than the expected 0.1% contraction, after a 0.2% expansion the previous month.
In the U.S., the Bureau of Economic Analysis said that personal spending rose less-than-expected in July, gaining 0.1% after an upwardly revised 0.6% increase the previous month. Analysts had expected personal spending to rise 0.3% last month.
In addition, data showed that U.S. core consumer prices, excluding food and energy, rose 0.1% in July, confounding expectations for a 0.2%, following a 0.2% increase in June.
Meanwhile, markets were still jittery amid concerns over an impending U.S.-led military strike against Syria, following the alleged use of chemical weapons.
The White House said on Thursday that President Barack Obama will decide on a response to Syria based on U.S. interests, but will continue to consult with Britain despite the British Parliament's "no" vote to a military intervention.
The loonie was higher against the euro with EUR/CAD shedding 0.27%, to hit 1.3917.
Later in the day, the U.S. was to release a report on manufacturing activity in Chicago and revised data from the University of Michigan on consumer sentiment.