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March 11, 2023
EUR/CAD rallied to 1.476, hitting its highest point in 1 year; it later lost 54 pips and closed at 1.4706.
EUR/CAD upside coincides with further encouraging market factors as Canada Employment Change beat the 10,000 projections, with 21,800.
At the same time, Germany Consumer Price Index came out at 8.7%, while a consensus of analysts was expecting 8.7%. Euro Zone CFTC EUR speculative net positions released yesterday at 20:30 UTC with a figure of 165,100, while the previous figure was 165,000.
Other currencies are also rising as GBP/USD rallies 0.92% yesterday and closed at 1.1923. GBP/CAD surges 0.89% yesterday and closed at 1.6486.
While EUR/CAD is up today, these currencies are lagging behind: USD/CHF is down to 0.9213, losing 111 pips, after ending the previous session around 0.9325.
As things stand, EUR/CAD is 13.48% away from a significant low of 1.2895 first set 6 months ago.
