Investing.com - The U.S. dollar was steady against the Canadian dollar on Thursday, following the release of a raft of broadly weaker-than-expected U.S. data, as investors awaited Spain’s budget statement.
USD/CAD hit 0.9820 during U.S. morning trade, the session low; the pair subsequently consolidated at 0.9834, shedding 0.21%.
The pair was likely to find support at 0.9755, Tuesday’s low and resistance at 0.9858, Wednesday’s high and an almost three-week high.
Official data showed that the U.S. economy expanded 1.3% in the second quarter, down from a preliminary estimate of 1.7%. Economists had expected the rate of growth to remain unchanged.
Meanwhile, official data showed that U.S. durable goods orders fell 13.2% in August, the steepest decline since January 2009, compared to expectations for a 5.0% decline.
A separate report showed that the number of people who filed for unemployment assistance in the U.S. last week fell by 26,000 to 359,000, compared to expectations for a decrease to 378,000.
Market sentiment remained cautious ahead of a press conference to announce the details of Spain’s draft budget statement for 2013, amid ongoing speculation over whether Madrid will seek a full-scale sovereign bailout.
The loonie, as the Canadian dollar is also known, was higher against the euro, with EUR/CAD slipping 0.19% to 1.2664.
Also Thursday, data released by the National Association of Realtors showed that U.S. pending home sales dropped 2.6% in August, compared to expectations for a 0.7% decline.
USD/CAD hit 0.9820 during U.S. morning trade, the session low; the pair subsequently consolidated at 0.9834, shedding 0.21%.
The pair was likely to find support at 0.9755, Tuesday’s low and resistance at 0.9858, Wednesday’s high and an almost three-week high.
Official data showed that the U.S. economy expanded 1.3% in the second quarter, down from a preliminary estimate of 1.7%. Economists had expected the rate of growth to remain unchanged.
Meanwhile, official data showed that U.S. durable goods orders fell 13.2% in August, the steepest decline since January 2009, compared to expectations for a 5.0% decline.
A separate report showed that the number of people who filed for unemployment assistance in the U.S. last week fell by 26,000 to 359,000, compared to expectations for a decrease to 378,000.
Market sentiment remained cautious ahead of a press conference to announce the details of Spain’s draft budget statement for 2013, amid ongoing speculation over whether Madrid will seek a full-scale sovereign bailout.
The loonie, as the Canadian dollar is also known, was higher against the euro, with EUR/CAD slipping 0.19% to 1.2664.
Also Thursday, data released by the National Association of Realtors showed that U.S. pending home sales dropped 2.6% in August, compared to expectations for a 0.7% decline.