On Thursday, the US dollar fell to a two-month low against its Canadian counterpart after the release of mixed US statistics and even despite the return of oil to its downtrend.
In early US trade, USD/CAD reached 1.3606, the lowest since December 10; the pair subsequently consolidated at 1.3622, losing 0.53%.
The pair was likely to receive support at 1.3528, the low of December 10, and resistance at 1.3861, Wednesday's high.
US Department of Labor said the number of initial applications for unemployment benefits for the week ending February 20 rose 10 000 to 272 000, from 262 000 the previous week.
Analysts had expected the number of applications to grow by only 8 000 to 270 000 last week.
Meanwhile, the US Commerce Department reported that volume of orders for durable goods increased by 4.9%, much more than the projected 2.5% last month.
The volume of orders for durable goods excluding transportation rose in January by 1.8%, exceeding the expectations of growth by 0.2%.
Meanwhile, the commodity Canadian dollar failed to respond to the renewed decline in oil prices.
Crude oil futures for April delivery got back to $ 31 a barrel on Thursday after rising above $ 33 earlier in the week, as the weekly inventory data released on Wednesday showed that US crude stocks rose last week to a record level, enhancing concern about over-saturation of the world market.
The Canadian dollar rose against the euro; EUR/CAD was down 0.63 % to 1.4990.
In the Eurozone on Thursday data showed that Eurozone consumer price index rose 0.3 % last month, below the preliminary estimate of 0.4 %. During the month, consumer prices fell 1.4 %, coinciding with the forecast.
Core CPI, excluding the cost of food, energy, alcohol and tobacco, rose 1.0 % in January, in line with expectations, unchanged from the initial estimate.