Investing.com - The U.S. dollar edged lower against its Canadian counterpart on Friday, as upbeat Canadian jobs data supported the loonie, although a strong U.S. employment report also boosted demand for the greenback.
USD/CAD hit 1.0622 during early U.S. trade, the pair's lowest since December 2; the pair subsequently consolidated at 1.0646, easing 0.08%.
The pair was likely to find support at 1.0614, the low of December 1 and resistance at 1.0707, the session high.
In Canada, official data showed that the economy added 21,600 jobs last month, blowing past expectations for a 12,000 rise, after an increase of 13,200 in October.
Canada's unemployment rate remained unchanged at 6.9% in November, compared to expectations for a rise to 7.0%.
Meanwhile, the greenback gained ground after the Department of Labor said the U.S. economy added 203,000 jobs in November, exceeding expectations for a 180,000 increase, after a downwardly revised 200,000 rise the previous month.
In the private sector, 196,000 jobs were added last month, compared to expectations for a 180,000 rise, after an increase of 214,000 in October.
The report also said the U.S. unemployment rate fell to 7.0% in November, from 7.3% in October, beating expectations for a downtick to 7.2%.
The loonie was steady against the euro, with EUR/CAD inching up 0.05% to 1.4561.
Also Friday, official data showed that German factory orders fell 2.2% in October, more than the expected 0.6% slip, after a downwardly revised 3.1% increase the previous month.
Later in the day, the University of Michigan was to produce the preliminary reading of its consumer sentiment index.
USD/CAD hit 1.0622 during early U.S. trade, the pair's lowest since December 2; the pair subsequently consolidated at 1.0646, easing 0.08%.
The pair was likely to find support at 1.0614, the low of December 1 and resistance at 1.0707, the session high.
In Canada, official data showed that the economy added 21,600 jobs last month, blowing past expectations for a 12,000 rise, after an increase of 13,200 in October.
Canada's unemployment rate remained unchanged at 6.9% in November, compared to expectations for a rise to 7.0%.
Meanwhile, the greenback gained ground after the Department of Labor said the U.S. economy added 203,000 jobs in November, exceeding expectations for a 180,000 increase, after a downwardly revised 200,000 rise the previous month.
In the private sector, 196,000 jobs were added last month, compared to expectations for a 180,000 rise, after an increase of 214,000 in October.
The report also said the U.S. unemployment rate fell to 7.0% in November, from 7.3% in October, beating expectations for a downtick to 7.2%.
The loonie was steady against the euro, with EUR/CAD inching up 0.05% to 1.4561.
Also Friday, official data showed that German factory orders fell 2.2% in October, more than the expected 0.6% slip, after a downwardly revised 3.1% increase the previous month.
Later in the day, the University of Michigan was to produce the preliminary reading of its consumer sentiment index.