Investing.com - The U.S. dollar was little changed against the Canadian dollar on Wednesday, after official data showed that U.S. retail sales and producer prices fell last month.
USD/CAD hit 0.9999 during early U.S. trade, the session low; the pair subsequently consolidated at 1.0010, dipping 0.09%
The pair was likely to find support at 0.9982, the low of November 12 and resistance at 1.0034, Tuesday’s high and a three-month high.
The Commerce Department said that U.S. retail sales fell by a seasonally adjusted 0.3% in October, more than expectations for a 0.2% decline.
Core retail sales, which exclude automobile sales, were flat last month. Analysts had expected core retail sales to increase 0.2% in October, after rising by an upwardly revised 1.2% in September.
Another report showed that producer price inflation in the U.S. fell unexpectedly in October, while core prices also dipped.
The Labor Department said that producer prices fell by a seasonally adjusted 0.2%, compared to expectations for a 0.2% increase, after rising 1.1% in September.
The core producer price index declined 0.2%, defying expectations for a 0.1% increase, after holding flat in September.
Overall market sentiment remained subdued as investors waited to see if there would be headway in approving a delayed aid payment for Greece and in addressing the U.S. fiscal cliff.
The loonie, as the Canadian dollar is also known, was lower against the euro, with EUR/CAD up 0.22% to 1.2757.
Later Wednesday, the Federal Reserve was to publish the minutes of its most recent policy-setting meeting.
USD/CAD hit 0.9999 during early U.S. trade, the session low; the pair subsequently consolidated at 1.0010, dipping 0.09%
The pair was likely to find support at 0.9982, the low of November 12 and resistance at 1.0034, Tuesday’s high and a three-month high.
The Commerce Department said that U.S. retail sales fell by a seasonally adjusted 0.3% in October, more than expectations for a 0.2% decline.
Core retail sales, which exclude automobile sales, were flat last month. Analysts had expected core retail sales to increase 0.2% in October, after rising by an upwardly revised 1.2% in September.
Another report showed that producer price inflation in the U.S. fell unexpectedly in October, while core prices also dipped.
The Labor Department said that producer prices fell by a seasonally adjusted 0.2%, compared to expectations for a 0.2% increase, after rising 1.1% in September.
The core producer price index declined 0.2%, defying expectations for a 0.1% increase, after holding flat in September.
Overall market sentiment remained subdued as investors waited to see if there would be headway in approving a delayed aid payment for Greece and in addressing the U.S. fiscal cliff.
The loonie, as the Canadian dollar is also known, was lower against the euro, with EUR/CAD up 0.22% to 1.2757.
Later Wednesday, the Federal Reserve was to publish the minutes of its most recent policy-setting meeting.