Investing.com – The U.S. dollar trimmed gains against its Canadian counterpart on Tuesday, retreating from a 3-day high after industry data showed that U.S. house prices fell less-than-expected in July.
USD/CAD retreated from 1.0361, the pair's highest since September 23, to hit 1.0301 during European afternoon trade, gaining 0.08%.
The pair was likely to find support at 1.0222, Monday's low and resistance at 1.0378, the high of September 23.
Earlier in the day, data showed that the Standard & Poor's/Case Schiller U.S. house price index declined 3.2% in July, after rising 4.2% in June. Analysts had expected the index to fall 3.4% in July.
Commenting on the report, David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s said, "While we could still see some residual support from the homebuyers’ tax credit, anyone looking for home prices to return to the lofty 2005-2006 might be disappointed".
The loonie was also down against the euro, with EUR/CAD gaining 0.41% to hit 1.3914.
Later in the day the U.S. was to release key data on consumer sentiment.
USD/CAD retreated from 1.0361, the pair's highest since September 23, to hit 1.0301 during European afternoon trade, gaining 0.08%.
The pair was likely to find support at 1.0222, Monday's low and resistance at 1.0378, the high of September 23.
Earlier in the day, data showed that the Standard & Poor's/Case Schiller U.S. house price index declined 3.2% in July, after rising 4.2% in June. Analysts had expected the index to fall 3.4% in July.
Commenting on the report, David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s said, "While we could still see some residual support from the homebuyers’ tax credit, anyone looking for home prices to return to the lofty 2005-2006 might be disappointed".
The loonie was also down against the euro, with EUR/CAD gaining 0.41% to hit 1.3914.
Later in the day the U.S. was to release key data on consumer sentiment.