Investing.com - The U.S. dollar slipped lower against its Canadian counterpart on Friday, as upbeat Canadian manufacturing sales lent support to the local currency, while Thursday's disappointing U.S. data continued to weigh on the greenback.
USD/CAD hit 1.2465 during early U.S. trade, the session low; the pair subsequently consolidated at 1.2482, shedding 0.20%.
The pair was likely to find support at 1.2389, the low of February 5 and resistance at 1.2647, Thursday's high.
Statistics Canada reported on Friday that manufacturing sales rose 1.7% in December, beating expectations for a 0.9% fall. November's figure was revised to a 1.3% decline from a previously estimated 1.4% drop.
Meanwhile, sentiment on the greenback remained vulnerable after the U.S. Department of Labor said on Thursday that the number of individuals filing for initial jobless benefits in the week ending February 7 increased by 25,000 to 304,000, compared to expectations for a 6,000 rise to 285,000.
Data also showed that U.S. retail sales declined by 0.8% last month, worse than expectations for a drop of 0.5%, while core retail sales, which exclude automobile sales, slumped 0.9% in December.
The loonie was higher against the euro, with EUR/CAD sliding 0.28% to 1.4223.
Later in the day, the U.S. was to produce preliminary data on consumer sentiment.