Investing.com – The U.S. dollar erased losses against its Canadian counterpart on Thursday, rising to an intra-day high, after official data showed that U.S. initial jobless claims fell more-than-expected last week.
USD/CAD clawed back up from 1.0169, a 2-day low, to hit 1.0217 during European afternoon trade, gaining 0.06%.
The pair was likely to find support at 1.0116, the low of October 18 and resistance at 1.0348, Wednesday’s high.
Earlier in the day, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 16 fell to a seasonally adjusted 452K, after rising to a revised 475K in the preceding week.
Analysts had expected initial jobless claims to decline to 455K in the week ending October 16.
The loonie was also down against the euro, with EUR/CAD gaining 0.18% to hit 1.4891.
Also Thursday, Statistics Canada said that its index of leading economic indicators fell unexpectedly in September, with the housing index posting the biggest declines.
USD/CAD clawed back up from 1.0169, a 2-day low, to hit 1.0217 during European afternoon trade, gaining 0.06%.
The pair was likely to find support at 1.0116, the low of October 18 and resistance at 1.0348, Wednesday’s high.
Earlier in the day, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 16 fell to a seasonally adjusted 452K, after rising to a revised 475K in the preceding week.
Analysts had expected initial jobless claims to decline to 455K in the week ending October 16.
The loonie was also down against the euro, with EUR/CAD gaining 0.18% to hit 1.4891.
Also Thursday, Statistics Canada said that its index of leading economic indicators fell unexpectedly in September, with the housing index posting the biggest declines.