Investing.com – The Canadian dollar was down against its U.S. counterpart on Wednesday, falling to hit a fresh 2-day low, after worse-than-expected data on Canadian manufacturing sales.
USD/CAD hit 1.0319 during European afternoon trade, the pair’s highest since September 13; the pair subsequently consolidated at 1.0309, gaining 0.32%.
The pair was likely to find support at 1.0215, Tuesday’s low, and resistance at 1.0373, the high of September 10.
Earlier in the day, Statistics Canada said that manufacturing sales in Canada fell by a seasonally adjusted 0.9% in July, after declining by a revised 0.1% June.
Analysts had expected manufacturing sales to rise by 0.1% in July.
The report said that sales fell in 12 of 21 industries, representing about half of total manufacturing sales.
The loonie was also down against the euro, with EUR/CAD gaining 0.12% to hit 1.3374.
Also Wednesday, official data showed that an index of manufacturing conditions in New York State fell more-than-expected in September.
USD/CAD hit 1.0319 during European afternoon trade, the pair’s highest since September 13; the pair subsequently consolidated at 1.0309, gaining 0.32%.
The pair was likely to find support at 1.0215, Tuesday’s low, and resistance at 1.0373, the high of September 10.
Earlier in the day, Statistics Canada said that manufacturing sales in Canada fell by a seasonally adjusted 0.9% in July, after declining by a revised 0.1% June.
Analysts had expected manufacturing sales to rise by 0.1% in July.
The report said that sales fell in 12 of 21 industries, representing about half of total manufacturing sales.
The loonie was also down against the euro, with EUR/CAD gaining 0.12% to hit 1.3374.
Also Wednesday, official data showed that an index of manufacturing conditions in New York State fell more-than-expected in September.