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Forex - USD/CAD steady after mixed U.S. data

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Investing.com - The U.S. dollar was steady against its Canadian counterpart on Thursday, after the release of mixed U.S. economics reports, while concers over the U.S. debt ceiling persisted.

USD/CAD hit 0.9870 during early U.S. trade, the daily low; the pair subsequently consolidated at 0.9854, inching up 0.06%.

The pair was likely to find support at 0.9837, Wednesday's low and resistance at 0.9892, the high of December 19.

Payroll processing firm ADP said earlier that non-farm private employment rose by a seasonally adjusted 215,000 in December, above expectations for an increase of 133,000.

The previous month's figure was revised up to a gain of 148,000 from a previously reported increase of 118,000.

Separately, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending December 29 rose by 10,000 to a seasonally adjusted 372,000, compared to expectations for a decline of 7,000 to 355,000.

Jobless claims for the preceding week were revised up to 362,000 from a previously reported 350,000.

Meanwhile, investors remained concerned over the longer term fiscal outlook in the U.S., with negotiations on raising the U.S. debt ceiling still to come in February.

Echoing the growing nervousness over the debt ceiling debate, a spokesman from the International Monetary Fund warned that "more remains to be done" to lower the U.S. debt load.

The loonie was higher against the euro with EUR/CAD falling 0.20%, to hit 1.2963.

Later in the day, the Federal Reserve was to publish the minutes of its most recent policy-setting meeting.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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