Forex Pros - The U.S. dollar fell to a session low against the Canadian dollar on Thursday after official data showed that initial claims for unemployment dropped significantly more than expected last week.
USD / CAD 0.9764 during early U.S. trade, the pair's lowest since Tuesday, the pair subsequently consolidated at 0.9771, shedding 0.46%.
The pair was likely to find near-term support at 0.9734, the lowest price since October 5 and resistance at 0.9833, the highest price for the session in a week ..
The U.S. Department of Labor that the number of individuals filing for initial jobless benefits last week fell by a seasonally adjusted 30,000 to 339.000, compared with expectations of an increase of 1,000 to 370,000.
Figure has been modified in the previous week to reach 369,000 from 367.000 previously reported.
Also has been strengthened sentiment on the euro amid optimism that the downgrade on Spain by Standard & Poor's would force the country to seek rescue official.
Came a step agency Standard & Poor's in line with Moody's, which reduced its rating on Spain in June to June.
Rating agency warned that the ability of the Spanish political institutions to deal with the challenges posed by the decline ..
In Canada, official data showed that the trade deficit narrowed to 1.3 billion Canadian dollars in August, compared to expectations for a $ 2.0 billion deficit. CAD
The Australian dollar remained supported after data showed that the country's economy added 14,500 jobs in September, defying expectations, an increase of 3,800.
Market sentiment has rebounded in general hopes that lower credit rating on Spain by Standard & Poor's would force Madrid to seek a rescue plan, which investors hope through which to resolve the debt crisis in the euro zone.
Standard & Poor's lowered classified Spain from BBB plus (+) to BBB minus (-) with a negative outlook on Wednesday evening, citing "increased risks on financing the Spanish public.
The rating agency warned that the ability of the Spanish political institutions to deal with the challenges and the current financial crisis and economic decline.
Canadian dollar remained almost unchanged against the euro, with EUR / CAD gaining 0.02% to hit 1.2642.
Later in the session, the U.S. will publish official data on crude oil stockpiles.
