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April 13, 2023
After hitting its highest point in 1 year at 1.4805, EUR/CAD dropped by 67 pips and is now trading at 1.4738.
Amid the market gloom, Germany Consumer Price Index released today at 06:00 UTC with a figure of 0.8%, while the previous figure was 0.8%. Canada Interest Rate came out at 4.5, while a consensus of analysts was expecting 4.5. Euro Zone Industrial Production came out at 1.5%, better than analyst estimates of 1% and improving upon the previous reading of 1%.
In the meantime, negative performances are also seen in other pairs as GBP/NZD plunges 1.04% to trade around 1.9855. EUR/NZD is down to 1.7509, losing 173 pips, after closing at 1.7683 in the preceding trading session.
Positive performances can be seen by looking at other currencies as NZD/USD added 1.49% to its value, now trading at 0.6309.
Furthermore, Canada Manufacturing Sales (MoM) (Feb) is scheduled for tomorrow at 12:30 UTC. Spain HICP (YoY) (Mar) scheduled to come out tomorrow at 07:00 UTC. Spain Consumer Price Index is expected tomorrow at 07:00 UTC. France Consumer Price Index is expected tomorrow at 06:45 UTC.
The currency pair has been trending positively for about 2 months. As things stand, EUR/CAD is 14.56% away from a significant low of 1.2895 first set 7 months ago.
