Investing.com – The Canadian dollar was down against its U.S. counterpart on Monday, as oil prices traded just above a 3-week low amid thin trading volumes as U.S. markets remained closed for a holiday.
USD/CAD hit 1.0661 during European afternoon trade, a daily high; the pair subsequently consolidated at 1.0641, gaining 0.14%.
The pair was likely to find support at 1.0555, the low of July 2, and resistance at 1.0706, the high of May 27.
Earlier in the day, oil prices clawed back from their lowest level in 3 weeks and edged above USD 72 a barrel. However, gains were capped after worse-than-expected data from China late on Sunday, sparked fresh fears over the pace of global economic growth.
The Canadian dollar was also down against the yen, with CAD/JPY shedding 0.13% to hit 82.5.
Meanwhile, markets in the U.S. were closed for the Independence Day bank holiday and were due to re-open Tuesday.
USD/CAD hit 1.0661 during European afternoon trade, a daily high; the pair subsequently consolidated at 1.0641, gaining 0.14%.
The pair was likely to find support at 1.0555, the low of July 2, and resistance at 1.0706, the high of May 27.
Earlier in the day, oil prices clawed back from their lowest level in 3 weeks and edged above USD 72 a barrel. However, gains were capped after worse-than-expected data from China late on Sunday, sparked fresh fears over the pace of global economic growth.
The Canadian dollar was also down against the yen, with CAD/JPY shedding 0.13% to hit 82.5.
Meanwhile, markets in the U.S. were closed for the Independence Day bank holiday and were due to re-open Tuesday.