Investing.com - The U.S. dollar was little changed against its Canadian counterpart on Tuesday, after U.S. consumer price inflation data came out broadly in line with expectations, while investors continued to monitor developments in Ukraine and the Gaza Strip.
USD/CAD hit 1.0733 during European afternoon trade, the session low; the pair subsequently consolidated at 1.0735, dipping 0.03%.
The pair was likely to find support at 1.0683, the low of June 26 and resistance at 1.0794, the high of July 16.
In a report, the U.S. Department of Labor said that consumer prices rose by 0.3% last month, meeting estimates, after rising 0.4% in May.
Year-over-year, consumer prices rose at an annualized rate of 2.1% in June, in line with expectations and unchanged from May.
Consumer prices, excluding food and energy costs, inched up 0.1% last month, compared to expectations for a 0.2% gain. Core consumer prices rose 0.3% in May.
Market sentiment mildly recovered on Tuesday, but investors continued to eye heightened tensions between the West and Russia following the downing of a Malaysian airliner in eastern Ukraine late last week, while Israel’s ground offensive in Gaza also remained in focus.
The loonie was higher against the euro, with EUR/CAD sliding 0.35% to 1.4471.
Later in the day, the U.S. was to release data on existing home sales.