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March 12, 2023
After ending Thursday at 1.4633, EUR/CAD rallied to 1.476 Friday, hitting its highest point in 1 year. It later lost 54 pips and closed at 1.4706.
A look at other currencies also shows bullish price action as GBP/USD went up by 0.92% Friday, and closed at 1.2033. GBP/CAD added 0.89% and closed around 1.6486 Friday.
While EUR/CAD is up today, these currencies are lagging behind: USD/CHF lost 1.2% Friday and closed at 0.9325.
Also worthy of note, Euro Zone Eurogroup Meetings is expected tomorrow at 10:00 UTC. Germany Buba Balz speech is scheduled tomorrow at 17:00 UTC.
The currency pair has been trending positively for about 28 days. As things stand, EUR/CAD is 13.48% away from a significant low of 1.2895 first set 6 months ago.
