Forexpros - The U.S. dollar was trading close to a three-month low against the Canadian dollar on Thursday, following comments from the president of the European Central Bank and the release of mixed U.S. economic data. USD/CAD hit 1.0063 during early U.S. trade, the pair’s lowest since May 16; the pair subsequently consolidated at 1.0079, shedding 0.73%. The pair was likely to find near-term support at 1.0053, the low of May 16 and resistance at 1.0165, the session high. Speaking in London, ECB President Mario Draghi pledged to do everything in his mandate to save the euro, sparking a rally in higher-yielding assets. Draghi also appeared to indicate that the ECB would be prepared to intervene to lower Spanish and Italian bond yields, saying that government borrowing costs would fall within the central bank’s mandate if they interfered with the 'transmission' of monetary policy. The yield on Spanish 10-year bonds dropped back to 6.99% from a session high of 7.38% following the remarks, while the yield on Italian 10-year bonds pulled back to 6.12%. In the U.S., the Department of Labor said that the number of individuals filing for initial jobless benefits fell by 35,000 to a seasonally adjusted 353,000 last week, beating expectations for a decline of 8,000 to 380,000. A separate report showed that U.S. core durable goods orders, which exclude transportation items, fell 1.1% in June, against expectations for a 0.1% increase. Including transportation items, durable goods orders rose 1.6% last month, beating expectations for a 0.4% increase after a 1.6% rise in May. The loonie, as the Canadian dollar is also known, was lower against the euro, with EUR/CAD up 0.41% to 1.2394. Later Thursday, the U.S. was to release industry data on pending home sales.

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