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March 09, 2023
After ending yesterday at 1.4541, EUR/CAD ascended as high as 1.459 before meeting resistance. Undeterred, EUR/CAD posted a fresh rally late in the trading session targeting 1.4567.
Meanwhile, Canada Interest Rate came out at 4.5, while a consensus of analysts was expecting 4.5. France Non-Farm Payrolls (QoQ) (Q4) released today at 06:30 UTC with a figure of 0.2, while the previous figure was 0.4. Canada Trade Balance (Jan) released yesterday at 13:30 UTC with a figure of 1.92 billion, while the previous figure was 1.19 billion.
Other currencies are also rising as GBP/USD rises 0.43% to trade around 1.1891.
While EUR/CAD is up today, these currencies are lagging behind: after ending yesterday's session at 137.27, USD/JPY lost 109 pips and is trading around 136.17. EUR/JPY falls 0.63% to trade around 143.81.
Also worthy of note, Canada Employment Change projected to come out at 10,000 — worse than previous data of 150,000; data will be released tomorrow at 13:30 UTC.
Furthermore, the market is looking at Germany Consumer Price Index figure is projected at 8.7%. It previously stood at 8.7%; data will be released tomorrow at 07:00 UTC. Euro Zone ECB President Lagarde speech set for tomorrow at 15:00 UTC.
EUR/CAD is now trading 12.77% away from its significant low of 1.2895 first tested 6 months ago.
