Investing.com - The U.S. dollar held steady near three-month lows against its Canadian counterpart on Friday, as a tepid U.S. durable goods orders report failed to reassure investors concerning the strength of the nation's recovery.
USD/CAD hit 1.2103 during early U.S. trade, the pair's lowest since April 17; the pair subsequently consolidated at 1.2139.
The pair was likely to find support at 1.2084, the low of April 17 and a three-month low and resistance at 1.2271, Thursday's high.
Official data showed that U.S. durable goods orders rose 4.0% in March, beating expectations for a 0.6% gain.after a 1.4% decline the previous month.
Core durable goods orders, which exclude transportation items, fell 0.2% last month, confounding expectations for a 0.3% rise. February's figure wad revised to a 1.3% decline from a previously estimated 0.6% fall.
The data came after a recent string of downbeat U.S. economic reports prompted investors to push back expectations for a rate hike by the Federal Reserve.
The loonie was lower against the euro, with EUR/CAD rising 0.24% to 1.3176.
The euro strengthened after the Ifo Institute of Economic Research earlier reported that Germany's business climate index rose to a 10-month high of 108.6 in April from 107.9 in March, beating expectations for an uptick to 108.4.