Investing.com - The U.S. dollar rose to a session high against the Canadian dollar on Thursday, after official data showed that Canadian retail sales missed expectations in September.
USD/CAD hit 0.9980 during early U.S. trading hours, the session high; the pair subsequently consolidated at 0.9977, easing up 0.15%.
The pair was likely to find support at 0.9910, the low of November 6 and resistance at 1.0016, the high of November 19.
Statistics Canada said Canadian retail sales edged 0.1% higher in September after a 0.3% increase the previous month, missing expectations for a 1.0% increase.
Core retail sales were flat, compared to expectations for a 1% gain.
The Canadian dollar had found support earlier in the session after a report showed that China’s preliminary HSBC manufacturing PMI rose to 50.4 in November, up from a final reading of 49.5 in October.
The loonie, as the Canadian dollar is also known, was down against the euro, with EUR/CAD rising 0.50% to 1.2847.
Trade volumes were expected to remain light on Thursday, with U.S. markets closed for the Thanksgiving holiday.
USD/CAD hit 0.9980 during early U.S. trading hours, the session high; the pair subsequently consolidated at 0.9977, easing up 0.15%.
The pair was likely to find support at 0.9910, the low of November 6 and resistance at 1.0016, the high of November 19.
Statistics Canada said Canadian retail sales edged 0.1% higher in September after a 0.3% increase the previous month, missing expectations for a 1.0% increase.
Core retail sales were flat, compared to expectations for a 1% gain.
The Canadian dollar had found support earlier in the session after a report showed that China’s preliminary HSBC manufacturing PMI rose to 50.4 in November, up from a final reading of 49.5 in October.
The loonie, as the Canadian dollar is also known, was down against the euro, with EUR/CAD rising 0.50% to 1.2847.
Trade volumes were expected to remain light on Thursday, with U.S. markets closed for the Thanksgiving holiday.