Investing.com - The U.S. dollar edged lower against its Canadian counterpart on Thursday, after disappoiting U.S. jobless data lessened expectations for the Federal Reserve to soon begin scaling back its stimulus program, weighing on demand for the greenback.
USD/CAD hit 1.0276 during early U.S. trade, the session low; the pair subsequently consolidated at 1.0302, slipping 0.12%.
The pair was likely to find support at 1.0217, the low of May 20 and resistance at 1.0350, the high of July 23.
The Labor Department said the number of individuals filing for initial jobless benefits last week increased by 7,000 to a seasonally adjusted 343,000, compared to expectations for an increase of 6,000 to 340,000.
Separately, the Commerce Department said orders for long lasting manufactured goods rose by a seasonally adjusted 4.2% in June, compared to expectations for an increase of 1.3%.
Durable goods for May were revised to a 5.2% gain from a previously reported 3.7% increase.
Core durable goods orders, which exclude volatile transportation items, were flat in June, compared to expectations for a 0.5% increase.
The loonie was higher against the euro with EUR/CAD falling 0.13%, to hit 1.3594.
Also Thursday, data showed that the Ifo index of German business climate ticked up to 106.2 in July from 105.9 In June, slightly better than expectations for a reading of 106.1.
USD/CAD hit 1.0276 during early U.S. trade, the session low; the pair subsequently consolidated at 1.0302, slipping 0.12%.
The pair was likely to find support at 1.0217, the low of May 20 and resistance at 1.0350, the high of July 23.
The Labor Department said the number of individuals filing for initial jobless benefits last week increased by 7,000 to a seasonally adjusted 343,000, compared to expectations for an increase of 6,000 to 340,000.
Separately, the Commerce Department said orders for long lasting manufactured goods rose by a seasonally adjusted 4.2% in June, compared to expectations for an increase of 1.3%.
Durable goods for May were revised to a 5.2% gain from a previously reported 3.7% increase.
Core durable goods orders, which exclude volatile transportation items, were flat in June, compared to expectations for a 0.5% increase.
The loonie was higher against the euro with EUR/CAD falling 0.13%, to hit 1.3594.
Also Thursday, data showed that the Ifo index of German business climate ticked up to 106.2 in July from 105.9 In June, slightly better than expectations for a reading of 106.1.