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May 12, 2023After closing at 1.4723 yesterday, EUR/CAD opened today at 1.4726, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, EUR/CAD retains a distinct 1.4672 to 1.4749 daily range.
While price action maintains a negative bias, Euro Zone CFTC EUR speculative net positions released today at 20:30 UTC with a figure of 179,400, while the previous figure was 173,500. Spain Consumer Price Index came out at 4.1%, while a consensus of analysts was expecting 4.1%. Spain HICP (YoY) (Apr) came out at 3.8.
In the meantime, negative performances are also seen in other pairs as NZD/USD drops 1.77% to trade around 0.619.
Positive performances can be seen by looking at other currencies as GBP/NZD added 1.29% to its value, now trading at 2.0109. EUR/NZD gained 1.18% and is now trading at 1.7527.
As things stand, EUR/CAD is 2.41% away from a significant high of 1.5086, first set 9 days ago.
