Bullish currency pair EUR/CAD runs out of steam at 1.5073; currently at 1.5071

EUR/CAD trades at 1.5071 after gaining 85 pips (0.57%).

At the same time, Euro Zone Consumer Price Index released yesterday at 09:00 UTC with a figure of 7%, while the previous figure was 6.9%. Data for Euro Zone Unemployment Rate published today at 09:00 UTC came out at 6.5, beating projections of 6.6 and showing improvement over the preceding figure of 6.6. Italy Consumer Price Index came out at 0.5%, while a consensus of analysts was expecting 0.3%.

A look at other currencies also shows bullish price action as GBP/USD leaps up 0.79% to trade around 1.257.

Meanwhile, USD/JPY is down 191 pips from the beginning of the session and now trades around 134.6. USD/CHF is down to 0.8837, losing 93 pips, after closing at 0.893 in the preceding trading session.

The market is looking forward to the release of new data: Euro Zone Deposit Facility Rate (May) will be released tomorrow at 12:15 UTC. Euro Zone Interest Rate figure is projected at 3.75. It previously stood at 3.5; data will be released tomorrow at 12:15 UTC. Canada Ivey PMI (Apr) is expected tomorrow at 14:00 UTC.

As things stand, EUR/CAD is 0.4% away from a significant high of 1.5046, first set 7 days ago.