Investing.com - The U.S. dollar slipped to four-month lows against its Canadian counterpart on Thursday, even after data showed that U.S. jobless claims fell unexpectedly last week, as growing concerns over the strength of the U.S. economy continued to weigh.
USD/CAD hit 1.1920 during early U.S. trade, the pair's lowest since January 15; the pair subsequently consolidated at 1.1930, falling 0.23%.
The pair was likely to find support at 1.1832, the low of January 12 and resistance at 1.2108, the high of May 12.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending May 9 fell by 1,000 to 264,000 from the previous week's total of 265,000.
Analysts had expected initial jobless claims to rise by 10,000 to 275,000 last week.
A separate report showed that U.S. producer prices fell 0.4% in April, compared to expectations for a 0.2% rise, after an uptick of 0.2% the previous month.
Core producer prices, which exclude food, energy and trade, slipped 0.2% last month, confounding expectations for a 0.1% gain, after a 0.2% rise in March.
At the same time, Statistics Canada reported that new house prises were flat in March, compared to expectations for a 0.1% uptick, after a 0.2% gain the previous month.
The loonie was lower against the euro, with EUR/CAD rising 0.28% to 1.3615.