Forex Pros &ndash; The U.S. dollar was trading close to multi-year lows against its Canadian counterpart on Wednesday, as optimism over the global economic recovery boosted commodity linked currencies.<br /><br />USD/CAD hit 0.9688 during European afternoon trade, the pair&rsquo;s lowest since March 10; the pair subsequently consolidated at 0.9706, shedding 0.36%.<br /><br />The pair was likely to find support at 0.9667, the low of March 9 and a 40-month low and resistance at 0.9783, Tuesday&rsquo;s high.<br /><br />Earlier in the day, official data showed that Canadian producer prices and raw material prices rose in February.<br /><br />Statistics Canada said the industrial product price index rose in line with expectations, climbing by 0.7% after rising by 0.2% in January.<br /><br />Meanwhile, the raw materials purchase price index rose by 1.8% in February, after increasing by 0.3% the previous month. Analysts had expected the raw materials purchase price index to rise by 0.8%.<br /><br />The February rise was led by a 3.0% jump in oil and coal products, and primary metal products. Both indexes have been on an upward trend since mid-2010.<br /><br />The loonie was also higher against the euro, with EUR/CAD shedding 0.58% to hit 1.3670.<br /><br />Also Wednesday, payroll processor ADP said U.S. private employers added 201,000 jobs in March, while February’s figure was revised down slightly.<br /><br /><br /><br />

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