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April 24, 2023While Friday ended at 1.4873, today, EUR/CAD rallied above 1.4968 for the first time in 1 year and gained 81 pips — now trading at 1.4954.
EUR/CAD upside coincides with further encouraging market factors as highly important Business Climate Index data from Germany beat analyst expectations of 94 with a reading of 93.6.
At the same time, Canada Wholesale Sales (MoM) came out at -0.4, while a consensus of analysts was expecting 0.3. Canada New Housing Price Index (MoM) (Mar) released today at 12:30 UTC with a figure of zero, while the previous figure was -0.2.
Other currencies are also rising as EUR/JPY is up 0.62% to 148.3. EUR/USD ascends 0.49% to trade around 1.1045.
At the same time, USD/CHF withdraws 0.48% to trade around 0.8877.
The market is looking forward to the release of new data: Canada Wholesale Sales (MoM) scheduled to come out tomorrow at 12:30 UTC. Euro Zone ECB's Enria speech is scheduled for tomorrow at 08:00 UTC.
The currency pair has been trending positively for about 2 months. Having set a peak of 1.4884 around a day ago, EUR/CAD is now trading 0.08% below this level.
