© Reuters. The USD/CAD slips in early trading
Investing.com – The u.s. dollar lost ground against its canadian counterpart on Thursday, after the release of economic reports american mixed and the sentiment on the canadian currency linked to raw materials is fragile in view of the weekly report on inventories of crude oil in the us.
In fact, the USD / CAD fell 0.10% to 1,2524 at 9.30 am (13.30 GMT), not far from a low of two months of 1.2500 on Wednesday.
Jobs private non-farm u.s. increased from 250,000 in December, above the forecast of economists, according to figures released by ADP on Thursday.
In a report, the Department of Labor has indicated that the number of individuals having recourse to unemployment assistance during the week leading up to the December 30, grew from 3,000 to 250,000.
The u.s. dollar found support after the minutes of the Federal Reserve, showed that officials have discussed a reduction of taxes, which could require an increase in interest rates at a faster pace in 2018.
The Fed has scheduled three rate hikes this year and two more by 2019.
Higher interest rates boost the dollar, making the currency more attractive to investors in search of yield.
The markets are now oriented towards non-agricultural employment due Friday.
The canadian dollar was vulnerable because the oil prices are struggling to make progress for the weekly report from the US Energy Information Administration relative to data on crude oil inventories later in the day.
The aussie declined against the euro, with EUR / CAD up 0.35% to 1,5120.