Investing.com - The U.S. dollar rose against its Canadian counterpart on Thursday, after the release of upbeat U.S. jobless claims and housing data, although cautioun ahead of the Federal Reserve's policy statement limited the greenback's gains.
USD/CAD hit 1.3204 during early U.S. trade, the session high; the pair subsequently consolidated at 1.3188, adding 0.11%.
The pair was likely to find support at 1.3150, the low of September 9 and resistance at 1.3260, Wednesday's high.
The Department of Labor said the number of individuals filing for initial jobless benefits in the week ending September 12 decreased by 11,000 to 264,000 from the previous week’s total of 275,000.
Analysts had expected jobless claims to remain unchanged last week.
A separate report showed that U.S. building permits increased by 3.5% to 1.170 million units last month, exceeding expectations for a 0.4% gain.
U.S. housing starts fell 3.0% to 1.126 million units in August, compared to expectations for a 5.1% drop.
Investors were eyeing the conclusion of the Fed policy setting meeting later in the day amid uncertainty over whether the Fed would hike short term interest rates for the first time in almost a decade.
An increase in interest rates would boost the greenback by making it more attractive to yield-seeking investors.
The loonie was lower against the euro, with EUR/CAD gaining 0.36% to 1.4926.