Investing.com - The U.S. dollar trimmed gains against its Canadian counterpart on Friday, after the release of positive inflations data from Canada and as investors were awaiting a key vote on U.S. President Donald Trump’s healthcare bill later in the day.
USD/CAD pulled away from 1.3383, the pair’s highest since Wednesday, to hit 1.3361 during early U.S. trade, steady for the day.
The pair was likely to find support at 1.3316, Thursday’s low and resistance at 1.3409, Wednesday’s high.
Statistics Canada reported that the consumer price index rose 0.2% in February, in line with forecasts and after a 0.9% increase in January.
Year-on-year, consumer prices advanced 2.0% last month, compared to expectations for a 2.1% rise.
Core CPI, which excludes food and energy, rose by 0.4% in February.
In the U.S., the Commerce Department said durable goods orders increased by 1.7% last month, compared to' expectations for a gain of 1.2%.
Core durable goods orders, which exclude volatile transportation items, rose by 0.4% last month, slightly below forecasts for a 0.4% gain.
But sentiment on the dollar remained vulnerable after Trump warned House Republican lawmakers that he will leave Obamacare in place and move on to tax reform if they do not approve new healthcare legislation in a vote on Friday.
The healthcare vote is seen by investors as a test of his ability to implement key campaign promises such as tax reform and infrastructure spending.
The loonie was lower against the euro, with EUR/CAD gaining 0.28% to 1.4433.