Investing.com - The U.S. dollar's recent rally against its Canadian counterpart stalled after hitting a 2-day high on Tuesday, ahead of the release of a key index on consumer confidence in the United States.
During European afternoon trade, USD/CAD hit 1.0464, its highest rate since Friday; it subsequently pulled back to 1.0431, gaining 0.02%. The pair was likely to find support at 1.0369, Monday's low, and resistance at 1.0529, Friday's high.
Later in the day, the Conference Board was set to publish its monthly consumer confidence index, a leading indicator of U.S. consumer spending.
The U.S. dollar's rise earlier Tuesday was helped by the release of worse-than-forecast data on the housing market in Britain and business confidence in Germany, which fueled speculation that economic recovery will be faster in the U.S. than in Europe.