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April 20, 2023EUR/CAD reached 1.48, breaking a 1 year record. Later, it lost 21 pips and is now trading at 1.4778.
EUR/CAD is currently trading at 1.4778 following the release of ECB Publishes Account of Monetary Policy Meeting data from the Euro Zone.
At the same time, Euro Zone Consumer Price Index came out at 6.9%, while a consensus of analysts was expecting 6.9%. Euro Zone Trade Balance (Feb) released today at 09:00 UTC with a figure of 4.6 billion, while the previous figure was -30.6 billion. Fresh 10-Year Obligacion Auction data from Spain came out at 3.509.
Elsewhere, other currency pairs are also gaining ground as GBP/NZD added 0.55% to its value, now trading at 2.0157. EUR/NZD is up 0.68%.
While EUR/CAD is up today, these currencies are lagging behind: USD/CHF is down 39 pips from the beginning of the session and now trades around 0.8935.
Also worthy of note, projections for Canada Core Retail Sales are set for a continuation of decline with -0.1% while previous data was 0.9%; data will be released tomorrow at 12:30 UTC.
Furthermore, the market is looking at Canada Retail Sales expected to decline to -0.6% while its preceding data was 1.4%, data will be available tomorrow at 12:30 UTC. Euro Zone Manufacturing PMI figure is projected at 48. It previously stood at 47.3; data will be released tomorrow at 08:00 UTC. France Services PMI figure is projected at 53.4. It previously stood at 53.9; data will be released tomorrow at 07:15 UTC.
The currency pair has been trending positively for about 2 months. After setting a supportive marker at 1.2895 around 7 months ago, EUR/CAD is now trading 14.28% higher.
