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April 29, 2023Yesterday at a glance: bearish sentiment ensured EUR/CAD finished yesterday's session lower. However, despite the downward bias, EUR/CAD etched out a distinct 1.4907 to 1.5031 session range.
GDP in Canada fell short of market expectations (0.2%) with a reading of 0.1%, continuing the decline from the previous figure of 0.6%.
Nonetheless, encouraging indicators for EUR/CAD published earlier when data from Germany concerning Unemployment Change was released yesterday at 07:55 UTC. Newly published figures emphasized continued decline from last month's figure of 16,000 to 24,000 this month.
While price action maintains a negative bias, Euro Zone CFTC EUR speculative net positions released yesterday at 20:30 UTC with a figure of 169,400, while the previous figure was 164,400.
Positive performances can be seen by looking at other currencies as GBP/JPY is trading around 171.14 after ending yesterday's session at 167.15 (up 2.39% today). USD/JPY went up by 1.8% yesterday, and closed at 136.31. EUR/JPY is trading around 150.14 after ending yesterday's session at 147.59 (up 1.73% today).
The currency pair has been trending positively for about 2 months. Having set a peak of 1.5046 around 3 days ago, EUR/CAD is now trading 0.43% below this level.
