Investing.com – The U.S. dollar was down against its Canadian counterpart on Thursday, falling to a daily low as continued talk of a Federal Reserve program to kickstart U.S. growth weighed.
USD/CAD hit 1.0232 during European afternoon trade, a daily low; the pair subsequently consolidated at 1.0239, shedding 0.40%.
The pair was likely to find support at 1.0180, the low of October 26 and resistance at 1.0338, Wednesday’s high.
The greenback came under pressure following a news report that the Federal Reserve Bank of New York surveyed primary dealers, asking them to estimate the effects of possible debt purchases by the central bank over a six-month period.
Meanwhile, the loonie was down against the euro, with EUR/CAD gaining 0.53% to hit 1.4234.
Earlier Thursday, official data showed that U.S. initial jobless claims fell last week to their lowest level since July.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 23 fell to a seasonally adjusted 434K, after falling to a revised 455K in the preceding week. Analysts had expected initial jobless claims to remain unchanged last week.
USD/CAD hit 1.0232 during European afternoon trade, a daily low; the pair subsequently consolidated at 1.0239, shedding 0.40%.
The pair was likely to find support at 1.0180, the low of October 26 and resistance at 1.0338, Wednesday’s high.
The greenback came under pressure following a news report that the Federal Reserve Bank of New York surveyed primary dealers, asking them to estimate the effects of possible debt purchases by the central bank over a six-month period.
Meanwhile, the loonie was down against the euro, with EUR/CAD gaining 0.53% to hit 1.4234.
Earlier Thursday, official data showed that U.S. initial jobless claims fell last week to their lowest level since July.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 23 fell to a seasonally adjusted 434K, after falling to a revised 455K in the preceding week. Analysts had expected initial jobless claims to remain unchanged last week.