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June 20, 2023Tentatively higher from an earlier low of 1.4396, EUR/CAD is up to 1.4448 today, adding 23 pips, or 0.16%, to yesterday's closing price of 1.4424.
Meanwhile, Germany Producer Price Index published today at 06:00 UTC came out at -1.4%, falling short of the -0.7% projections and continuing its decline from the previous 0.3% figure. Canada RMPI (MoM) (May) came out at -4.9, while a consensus of analysts was expecting 1.7.
A look at other currencies also shows bullish price action as EUR/AUD jumps 0.92% to trade around 1.6085.
Meanwhile, AUD/USD is down to 0.6794, losing 61 pips, after closing at 0.6855 in the preceding trading session. GBP/JPY is trading around 180.84 (down 72 pips).
Positive indicators for EUR/CAD are expected going forward as Canada Core Retail Sales is projected to outperform its last figure with 0.3%. It previously stood at -0.3%; data will be released tomorrow at 12:30 UTC.
Elsewhere, Canada Retail Sales is projected to outperform its last figure with 0.2%. It previously stood at -1.4%; data will be released tomorrow at 12:30 UTC. Canada New Housing Price Index (MoM) (May) will be released tomorrow at 12:30 UTC.
EUR/CAD is now trading 4.39% away from its significant high of 1.5086 first tested a month ago.
