Investing.com - The U.S. dollar was hovering near one-month highs against its Canadian counterpart on Thursday, after the release of positive U.S. economic reports, although a rebound in oil prices lent some support to the commodity-related Canadian currency.
USD/CAD was little changed at 1.2870 by 09:30 a.m. ET (13:30 GMT), just off a one-month peak of 1.2902 hit earlier in the day.
The U.S. Department of Labor reported that initial jobless claims rose fell unexpectedly to 238,000 last week.
Separately, the U.S. Commerce Department said that personal spending increased by 0.3% in October, in line with forecasts.
The reports came a day after data showed that the U.S. economy grew faster than expected in the third quarter.
Meanwhile, the Canadian dollar benefited from a rise in oil prices on Thursday, as traders awaited the outcome of a highly anticipated meeting of major oil producers scheduled on Thursday.
The loonie was also lower against the euro, with EUR/CAD up 0.29% at 1.5288.