Investing.com - The U.S. dollar slipped lower against the Canadian dollar on Thursday after data showed that U.S. jobless claims rose unexpectedly last week.
USD/CAD hit 1.0133 during early U.S. trade, the session low; the pair subsequently consolidated at 1.0136, dipping 0.09%.
The pair was likely to find support at 1.0123, Wednesday’s low and a five-week low and resistance at 1.0181, the high of April 4.
The Department of Labor said the number of people who filed for unemployment assistance last week rose by 28,000 to a seasonally adjusted 385,000, compared to expectations for a decrease of 7,000 to 350,000.
Jobless claims for the preceding week rose by an unrevised 357,000.
Elsewhere, European Central Bank President Mario Draghi said the bank would closely monitor incoming data and was ready to act to cut rates if needed.
The comments came after the ECB kept rates on hold at 0.75%.
The loonie, as the Canadian dollar is also known, was steady against the euro, with EUR/CAD dipping 0.04% to 1.3028 and was sharply higher against the yen, with CAD/JPY rallying 2.87% to 94.33.
The yen fell across the board on Thursday after the Bank of Japan implemented aggressive easing measures aimed at spurring growth and combating deflation in the world’s third largest economy.
The BoJ, under the leadership of newly appointed Governor Haruhiko Kuroda, said it plans to double its asset purchase program over the next two years and extend the maturities of the bonds it purchases.
USD/CAD hit 1.0133 during early U.S. trade, the session low; the pair subsequently consolidated at 1.0136, dipping 0.09%.
The pair was likely to find support at 1.0123, Wednesday’s low and a five-week low and resistance at 1.0181, the high of April 4.
The Department of Labor said the number of people who filed for unemployment assistance last week rose by 28,000 to a seasonally adjusted 385,000, compared to expectations for a decrease of 7,000 to 350,000.
Jobless claims for the preceding week rose by an unrevised 357,000.
Elsewhere, European Central Bank President Mario Draghi said the bank would closely monitor incoming data and was ready to act to cut rates if needed.
The comments came after the ECB kept rates on hold at 0.75%.
The loonie, as the Canadian dollar is also known, was steady against the euro, with EUR/CAD dipping 0.04% to 1.3028 and was sharply higher against the yen, with CAD/JPY rallying 2.87% to 94.33.
The yen fell across the board on Thursday after the Bank of Japan implemented aggressive easing measures aimed at spurring growth and combating deflation in the world’s third largest economy.
The BoJ, under the leadership of newly appointed Governor Haruhiko Kuroda, said it plans to double its asset purchase program over the next two years and extend the maturities of the bonds it purchases.