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18 days ago
USD/CAD Almost Unchanged after Upbeat U.S. Data

Forex News Feed - USD/CAD Almost Unchanged after Upbeat U.S. Data

The U.S. dollar was apropos unchanged following to its Canadian counterpart in the region of speaking Thursday, after the freedom of upbeat U.S. jobless claims data as sentiment upon the greenback remained vulnerable ahead of Friday's key U.S. employment description.

USD/CAD was steady at 1.2317 by 09:30 a.m. ET (13:30 GMT), just off Wednesday's light four-month low of 1.2248.

The U.S. Department of Labor reported upon Thursday that initial jobless claims decreased by 1,000 to 230,000 in the week ending January 27. Analysts had traditional jobless claims to rise to 238,000 last week.

The greenback briefly rebounded after the Fed, at the conclusion of its policy meeting upon Wednesday, signaled its confidence approximately inflation and layer in the U.S.

The Fed said that inflation is likely to rise this year, boosting expectations for subsidiary amalgamation rate hikes sedated incoming central bank head, Jerome Powell.

The Fed left rates unchanged upon Wednesday, in widely customary touch. The meeting was current Fed seat Janet Yellen's last.

Market participants were now looking ahead to Friday's nonfarm payrolls description for optional add-on indications upon the strength of the job heavens.

Separately, the commodity-linked Canadian dollar benefited from a rise in oil prices upon Thursday, helped by news of an intelligent subside in U.S. stocks of gasoline and distillate supplies.

The loonie was humble counter to the euro, taking into account EUR/CAD taking place 0.20% at 1.5324.

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