Investing.com – The U.S. dollar eased down to a daily low against its Canadian counterpart on Wednesday, following the release of muted data on U.S. consumer prices and industrial production.
USD/CAD hit 1.0045 during European afternoon trade, the daily low; the pair subsequently consolidated at 1.0048, shedding 0.11%.
The pair was likely to find support at 1.0011, the low of December 7 and resistance at 1.0110, Tuesday’s high.
Earlier in the day, the Bureau of Labor Statistics said that core consumer prices, less food and energy rose in line with expectations in November, increasing by 0.10%, up from a flat reading in October.
Consumer prices, including food and energy costs rose less-than-expected in November, increasing by a seasonally adjusted 0.1%. Analysts had expected consumer price inflation to rise by 0.2% in November.
Year-on-year, consumer prices rose by 1.1% in November, after rising by 1.2% in October.
A separate report showed that industrial production in the U.S. rose more-than-expected in November, climbing 0.4%, slightly above expectations for a 0.3% increase.
The loonie was also up against the euro, with EUR/CAD shedding 0.31% to hit 1.3416.
Also Wednesday, official data showed that Canadian manufacturing sales rose significantly more-than-expected in October.
USD/CAD hit 1.0045 during European afternoon trade, the daily low; the pair subsequently consolidated at 1.0048, shedding 0.11%.
The pair was likely to find support at 1.0011, the low of December 7 and resistance at 1.0110, Tuesday’s high.
Earlier in the day, the Bureau of Labor Statistics said that core consumer prices, less food and energy rose in line with expectations in November, increasing by 0.10%, up from a flat reading in October.
Consumer prices, including food and energy costs rose less-than-expected in November, increasing by a seasonally adjusted 0.1%. Analysts had expected consumer price inflation to rise by 0.2% in November.
Year-on-year, consumer prices rose by 1.1% in November, after rising by 1.2% in October.
A separate report showed that industrial production in the U.S. rose more-than-expected in November, climbing 0.4%, slightly above expectations for a 0.3% increase.
The loonie was also up against the euro, with EUR/CAD shedding 0.31% to hit 1.3416.
Also Wednesday, official data showed that Canadian manufacturing sales rose significantly more-than-expected in October.