Investing.com - The U.S. dollar was almost unchanged against its Canadian counterpart on Monday, after the release of mixed U.S. data and as uncertainty over the outcome of the U.S. presidential elections continued to weigh.
USD/CAD hit 1.3424 during early U.S. trade, the session high; the pair subsequently consolidated at 1.3403.
The pair was likely to find support at 1.3349, Friday’s low and resistance at 1.3432, Friday’s high and a seven-month high.
The Institute for Supply Management said its Chicago purchasing managers’ index decreased to 50.6 this month from a reading of 54.2 in September. Analysts had expected the index to drop to 54.0 in October.
The report came shortly after the U.S. Commerce Department said that consumer spending increased 0.5% in September, in line with expectations and compared to a decline of 0.1% in August.
Personal income, meanwhile, rose by 0.3% in September, compared to expectations for 0.4% advance, after rising 0.2% a month earlier.
The greenback also remained supported after a stronger-than-forecast preliminary estimate of U.S. third quarter economic growth supported the case for the Federal Reserve to hike interest rates in December.
However, the U.S. dollar’s gains were capped by heightened political uncertainty after the FBI said it would review more emails related to Hillary Clinton's private email use.
Also Monday, Statistics Canada reported that raw materials prices slipped 0.1% in September, compared to expectations for an increase of 0.5% and after a 0.7% decline the previous month.
The loonie was higher against the euro, with EUR/CAD shedding 0.31% to 1.4667.
Earlier in the day, data showed that the pace of economic growth in the euro zone was unchanged in the third quarter from the second, while the rate of inflation picked up only slightly in October.
A separate report showed that German retail sales fell at the fastest rate in two years in September, adding to concerns over the outlook for the euro area’s largest economy.