Investing.com - The U.S. dollar was almost unchanged against its Canadian counterpart on Monday, as trading volumes were expected to remain thin with markets closed in the U.S. and in Canada for the Labor Day holiday.
USD/CAD hit 1.3296 during early U.S. trade, the pair's highest since September 2; the pair subsequently consolidated at 1.3272.
The pair was likely to find support at 1.3158, the low of September 4 and resistance at 1.3325, the high of September 2.
The Labor Department reported on Friday that the U.S. economy added 173,000 jobs last month, slowing after an upwardly revised gain of 245,000 in July. It was the smallest increase in employment in five months and was below expectations for 220,000.
The unemployment rate ticked down to 5.1%, its lowest level since April 2008 from 5.3% in July, while average hourly wages rose by a stronger-than-expected 2.2%.
The jobs report failed to provide much clarity on when the U.S. central bank will decide to raise short term interest rates.
Separetely, the Canadian dollar remained under pressure by ongoing weakness in oil prices. Crude oil futures for October delivery were down 1.76% at $45.25 at the open of U.S. trading.
The loonie was steady against the euro, with EUR/CAD at 1.4811.
The euro remained supported after the European Central Bank indicated last week that it could scale up its quantitative easing program amid increased risk to the region’s inflation outlook from slowing growth in China and falling oil prices.