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April 18, 2023Tentatively higher from an earlier low of 1.4623, EUR/CAD is up to 1.4695 today, adding 61 pips, or 0.42%, to yesterday's closing price of 1.4633.
EUR/CAD is currently trading at 1.4695 following the release of Core Consumer Prices data from the Canada.
At the same time, Canada Core Consumer Prices came out at 0.6%, while a consensus of analysts was expecting 0.4%. Germany ZEW Economic Sentiment Index released today at 09:00 UTC with a figure of 4.1, while the previous figure was 13. Canada Core Consumer Prices came out at 4.3%, while a consensus of analysts was expecting 4.4%.
A look at other currencies also shows bullish price action as GBP/USD rises 0.43% to trade around 1.2431. Having closed the previous session at 1.093, EUR/USD is up 0.39% today to currently trade at around 1.0973. Having closed the previous session at 1.6575, GBP/CAD is up 0.44% today to currently trade at around 1.6648.
Furthermore, the market is looking at Euro Zone Consumer Price Index figure is projected at 6.9%. It previously stood at 6.9%; data will be released tomorrow at 09:00 UTC. Canada RMPI (MoM) (Mar) is expected tomorrow at 12:30 UTC. Euro Zone Consumer Price Index is expected tomorrow at 09:00 UTC.
Trading mostly sideways for 2 months. After setting a supportive marker at 1.2895 around 7 months ago, EUR/CAD is now trading 13.48% above this level.
