Investing.com - The U.S. dollar was almost unchanged against its Canadian counterpart on Thursday, as the release of upbeat U.S. jobless claims data lent support to the greenback but investors remained cautious before the minutes of the Federal Reserve's latest policy meeting.
USD/CAD hit 1.3074 during early U.S. trade, the session high; the pair subsequently consolidated at 1.3053.
The pair was likely to find support at 1.2970, Wednesday's low and a two-month low and resistance at 1.3176, the high of October 5.
The Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 3 fell by 13,000 to 263,000 from the previous week’s downwardly revised total of 276,000.
Market participants were now eyeing the minutes of the Fed's latest policy meeting, due later in the day, for further indications on the central bank's next policy moves.
The greenback has been under pressure recently amid diminished expectations for a rate hike by the Fed this year in the wake of last Friday's unexpectedly weak U.S. jobs report for September.
The loonie was also steady against the euro, with EUR/CAD at 1.4684.