Investing.com – The Canadian dollar was up against its U.S. counterpart on Tuesday, rising to hit a fresh 6-week high, after a flurry of mixed Canadian economic data.
USD/CAD hit 1.0245 during European afternoon trade, the pair’s lowest since August 6; the pair subsequently consolidated at 1.0259, shedding 0.11%.
The pair was likely to find support at 1.0146, the low of August 6, and resistance at 1.0373, the high of September 10.
Earlier in the day, Statistics Canada said that labor productivity fell by a seasonally adjusted 0.8% in the second quarter, after increasing by a revised 0.5% in the first quarter.
Analysts had expected labor productivity to fall by 0.5% in the second quarter.
Meanwhile, seperate data showed that Canada’s capacity utilization rate rose for the fourth consecutive quarter, while new motor vehicle sales increased more-than-expected in July.
The loonie was also up against the euro, with EUR/CAD shedding 0.31% to hit 1.3190.
Also Tuesday, official U.S. data showed that retail sales rose more-than-expected in August.
USD/CAD hit 1.0245 during European afternoon trade, the pair’s lowest since August 6; the pair subsequently consolidated at 1.0259, shedding 0.11%.
The pair was likely to find support at 1.0146, the low of August 6, and resistance at 1.0373, the high of September 10.
Earlier in the day, Statistics Canada said that labor productivity fell by a seasonally adjusted 0.8% in the second quarter, after increasing by a revised 0.5% in the first quarter.
Analysts had expected labor productivity to fall by 0.5% in the second quarter.
Meanwhile, seperate data showed that Canada’s capacity utilization rate rose for the fourth consecutive quarter, while new motor vehicle sales increased more-than-expected in July.
The loonie was also up against the euro, with EUR/CAD shedding 0.31% to hit 1.3190.
Also Tuesday, official U.S. data showed that retail sales rose more-than-expected in August.