US dollar remained almost without change against its Canadian peer on Friday, as trade was subdued and investors – wary, ahead of US consumer confidence data.
USD/CAD slid to a session low, 1.0265 at 10:39 GMT, after which consolidation followed at 1.0275. Support was likely to be found at June 19th low, 1.0174, while resistance was to be met at July 23rd high, 1.0350.
Market players remained cautious, following the mixed data from the United States, released on Thursday. The Labor Department in the country stated that initial jobless claims rose by 7 000 to reach 343 000 during the week ended on July 20th 2013. Results during the preceding week were revised up to 336 000 from 334 000 previously. This indicator seemed to put larger weight upon the demand for the greenback, despite the stability, demonstrated by durable goods orders. It was shown that they rose by 4.2% in June in comparison with preliminary estimates of a 1.3% rise, while in May the value of the indicator was revised up to an increase by 5.2% from a 3.6% rise previously.
Canadian currency traded higher against the euro, as EUR/CAD pair slipped by 0.09% to 1.3639.
Within minutes the United States will release data on the final reading of University of Michigan Consumer Confidence index, as better than projected results may give support to the US dollar.
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