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June 07, 2023EUR/CAD fell to a new low at 1.4315 today, its lowest value in 3 months; yesterday ended at 1.4329.
Canada Interest Rate is next today at 14:00 UTC.
Amid the market gloom, Canada Ivey PMI (May) released yesterday at 14:00 UTC with a figure of 53.5, while the previous figure was 56.8. Canada Building Permits came out at -18.8%, while a consensus of analysts was expecting -2.9%. Euro Zone Retail Sales released earlier showed a marked improvement to 0% from the preceding data of -0.4%, but fell short of the 0.2% figure forecast by a consensus of market analysts.
In the meantime, negative performances are also seen in other pairs as EUR/JPY closed at 148.88 (down 0.28%). USD/JPY closed at 139.33 (down 0.21%). GBP/JPY withdraws 0.2% to trade around 173.03.
Furthermore, Canada Interest Rate is expected today at 14:00 UTC. Canada Labor Productivity (QoQ) (Q1) scheduled to come out today at 12:30 UTC. Germany Industrial Production is projected to outperform its last figure with 0.6%, having previously been at -3.4%. The figure will be published today at 06:00 UTC. Euro Zone GDP expected to decline to zero while its preceding data was 0.1, data will be available tomorrow at 09:00 UTC.
The currency pair has been trending lower for about a month. As things stand, EUR/CAD is 5% away from a significant high of 1.5086, first set a month ago.
