Investing.com - The U.S. dollar edged lower against its Canadian counterpart on Wednesday, as U.S. employment data disappointed market expectations and uncertainty over the outcome of the upcoming presidential elections continued to weigh on the greenback.
USD/CAD hit 1.3361 during early U.S. trade, the session low; the pair subsequently consolidated at 1.3375, slipping 0.10%.
The pair was likely to find support at 1.3310, the low of October 26 and resistance at 1.3432, the high of October 28 and a seven-month high.
Payroll processing firm ADP said non-farm private employment rose 147,000 last month, below forecasts for an increase of 165,000.
The economy created 202,000 jobs in September, whose figure was upwardly revised from a previously reported increase of 154,000.
Meanwhile, investors remained cautious after the FBI said last Friday that it would review more emails related to Hillary Clinton's private email use while she was secretary of state.
The news sparked fresh uncertainty over Mrs. Clinton’s election prospects ahead of the November 8 vote, amid fears over the implications of a victory for Republican candidate Donald Trump.
However, the Canadian dollar’s gains were expected to remain limited as oil prices tumbled to five-week lows on bets for bearish U.S. stockpile data later in the day.
The loonie was lower against the euro, with EUR/CAD rising 0.28% to 1.4845.