Investing.com - The U.S. dollar slipped lower against its Canadian counterpart on Tuesday, after the release of mixed U.S. durable goods orders data and as investors still eyed an upcoming report on U.S. consumer confidence.
USD/CAD hit 1.0958 during European afternoon trade, the session low; the pair subsequently consolidated at 1.0953, shedding 0.28%.
The pair was likely to find support at 1.0928, the low of August 22 and resistance at 1.0998, Monday's high and a more than three-month high.
In a report, the U.S. Commerce Department said that total durable goods orders, which include transportation items, surged by 22.6% last month, blowing past expectations for an increase of 7.5%.
Orders for durable goods in June were revised up to a 2.7% gain from a previously reported increase of 1.7%.
Core durable goods orders, excluding volatile transportation items, eased down by 0.8% in July, missing forecasts for a 0.5% gain. Core durable goods orders rose by 3% in June.
The greenback had strengthened broadly after Federal Reserve Chair Janet Yellen said at Jackson Hole on Friday that the U.S. economy is recovering and added the labor market is improving as well.
Meanwhile, investors remained cautious as Russian President Vladimir Putin was set to meet his Ukrainian counterpart, Petro Poroshenko, later Tuesday amid growing tensions in the region.
On Monday, Ukraine said an armored column including 10 tanks entered from Russia as the government in Moscow unveiled plans to send a second convoy with humanitarian aid.
The loonie was higher against the euro, with EUR/CAD edging down 0.23% to 1.4457.