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11 days ago
USD/CAD Trims Gains After Downbeat U.S. Data

Forex News Feed - USD/CAD Trims Gains After Downbeat U.S. Data

The U.S. dollar trimmed gains adjoining its Canadian counterpart in fable to Thursday, after downbeat U.S. economic reports sent the greenback broadly humiliate, though disappointing data from Canada limited the local currency's gains.

USD/CAD was tiny tainted at 1.2552 by 09:30 a.m. ET (13:30 GMT), off two-week highs of 1.2590 hit earlier in the hours of daylight.

The U.S. Department of Labor reported approximately Thursday that initial jobless claims increased to 261,000 last week, compared to expectations for a slip to 246,000.

A server version showed that the producer price index fell 0.1% last month, confounding expectations for a 0.2% rise.

The U.S. dollar gained sports ground earlier Thursday after Chinas foreign dispute regulator said that a report approximately Beijing slowing or halting its U.S. arrangement buying may be based upon the erroneous recommendation and could be "act".

The greenback initially dropped after Bloomberg reported that Chinese officials reviewing foreign-argument holdings had recommended slowing or halting purchases of U.S. bonds. China is the largest foreign holder of U.S. supervision debt.

In Canada, proprietor data showed that the additional housing price index ticked in the works 0.1% in November, less than the period-privileged 0.2% elaborate and after a 0.1% rise the previous month.

The loonie was lower hostile to the euro, once EUR/CAD taking place 0.79% at 1.5108

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