Investing.com – The U.S. dollar extended losses against its Canadian counterpart on Thursday, falling to hit a 5-day low after official data showed that the number of people who filed for unemployment assistance in the U.S. last week rose more-than-expected.
USD/CAD hit 1.0080 during European afternoon trade, the pair’s lowest since November 25; the pair subsequently consolidated at 1.0095, tumbling 0.73%.
The pair was likely to find support at 1.0056, the low of November 15 and resistance at 1.0270, Wednesday’s high.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending November 27 rose to a seasonally adjusted 436K, after falling to a revised 410K in the preceding week.
Analysts had expected initial jobless claims to rise to 423K in the week ending November 27.
The loonie was also sharply higher against the euro, with EUR/CAD plunging 0.98% to hit 1.3228.
Later in the day, the U.S. was to publish data on pending home sales.
USD/CAD hit 1.0080 during European afternoon trade, the pair’s lowest since November 25; the pair subsequently consolidated at 1.0095, tumbling 0.73%.
The pair was likely to find support at 1.0056, the low of November 15 and resistance at 1.0270, Wednesday’s high.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending November 27 rose to a seasonally adjusted 436K, after falling to a revised 410K in the preceding week.
Analysts had expected initial jobless claims to rise to 423K in the week ending November 27.
The loonie was also sharply higher against the euro, with EUR/CAD plunging 0.98% to hit 1.3228.
Later in the day, the U.S. was to publish data on pending home sales.