Investing.com – The U.S. dollar pared losses against its Canadian counterpart on Thursday, after official data showed U.S. initial jobless claims fell more than expected last week.
USD/CAD hit 1.0310 during European afternoon trade, shedding 0.17%, after clawing back up from a daily low of 1.0277.
The pair was likely to find short-term support at 1.0277, and resistance at 1.0454, the high of July 9.
Earlier in the day, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending July 10 fell to a seasonally adjusted 429K, after declining to 458K in the previous week, whose figure was revised up form 454K.
Analysts had expected a decline of 449K in the week ending July 9.
Meanwhile, the loonie was down against the euro, with EUR/CAD gaining 0.82% to hit 1.3268.
Also Thursday, official data showed Canadian manufacturing sales rose more than expected in May, led higher by the auto industry.
USD/CAD hit 1.0310 during European afternoon trade, shedding 0.17%, after clawing back up from a daily low of 1.0277.
The pair was likely to find short-term support at 1.0277, and resistance at 1.0454, the high of July 9.
Earlier in the day, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending July 10 fell to a seasonally adjusted 429K, after declining to 458K in the previous week, whose figure was revised up form 454K.
Analysts had expected a decline of 449K in the week ending July 9.
Meanwhile, the loonie was down against the euro, with EUR/CAD gaining 0.82% to hit 1.3268.
Also Thursday, official data showed Canadian manufacturing sales rose more than expected in May, led higher by the auto industry.