Forex Pros &ndash; The U.S. dollar pared losses against its Canadian counterpart on Thursday, to trade unchanged on the day, following data showing that new U.S. claims for unemployment benefits fell last week while Canada&rsquo;s economy grew in line with expectations in January.<br /><br />USD/CAD retreated from 0.9682, the pair&rsquo;s lowest since March 10, to hit 0.9709 during early U.S. trade, unchanged on the day.<br /><br />The pair was likely to find support at 0.9666, the low of March 9 and a multi-year low and resistance at 0.9752, Wednesday&rsquo;s high.<br /><br />Statistics Canada reported that Canadian gross domestic product rose in line with expectations in January, expanding 0.5%, led by the largest output gain in manufacturing since September 2003.<br /><br />A separate report showed that average weekly earnings of Canadian nonfarm payroll employees grew 4.2% year-on-year to a seasonally adjusted CAD870.33 in January and climbed 0.3% month-on-month.<br /><br />The commodity linked Canadian dollar remained well supported by higher crude oil prices with concerns over supplies from the Middle East and North Africa keeping oil above USD106 a barrel. <br /><br />The loonie was down against the euro, with EUR/CAD climbing 0.38% to hit 1.3766.<br /><br />Earlier Thursday, the U.S. Labor Department said initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 388,000. Analysts had expected claims to drop to 380,000.<br /><br />The prior week’s figure was revised up to 394,000 from the previously reported 382,000.<br /><br /><br />

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