US dollar came off session lows against its Canadian counterpart on Thursday after positive US jobless claims and pending home sales data was announced.
USD/CAD jumped off a session low at 1.0422, registered at 8:47 GMT, lowest point since June 21st, to reach 1.0481 at 14:24 GMT. The cross was up by 0.09% for the day. Support was likely to be received at June 21st low, 1.0361, while resistance was to be met at June 26th high, 1.0526.
Earlier it was reported that the number of people, filed for unemployment assistance in the United States decreased to 346 000 during the week, ending on 22.06.2013. Experts had projected that jobless claims would fall to 345 000.
Another report stated, that Personal Income in the United States rose by 0.5% in May on a monthly basis, above the expected 0.2% rise, while Personal Spending rose by 0.3% in May in line with preliminary estimates.
Core Personal Consumption Expenditures (PCE) Price Index registered the same rate of increase in May 2013, compared to May 2012, 1.1%, as was during the preceding period. Projections also showed an annual increase by 1.1%.
Ultimately, Pending Home Sales in the US increased in May, reaching a six-year high. The index rose by 6.7% in May from a revised down -0.5% in April (previously 0.3%). In annual terms, the indicator increased by 12.1%. National Association of Realtors said, that rising mortgage rates urged some potential buyers to action. In addition, the average projection of a price per home in 2013 has been revised up to 195 000 USD from 190 000 USD. Experts predicted US pending home sales to have climbed to a seven-year peak to 5.07 million units.
Canada was expected to release data, regarding countrys Gross Domestic Product, Industrial Production Price Index and Raw Materials Price Index on Friday, while the United States was to announce the results from Chicago Business Survey.
US dollar extended its gains against the British pound, as GBP/USD tumbled to 1.5208 at 15:00 GMT. At the same time, USD/JPY hit 98.50 at 14:59 GMT, while EUR/USD touched 1.3003 at 15:03 GMT.
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