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May 15, 2023After closing at 1.4639 Friday, EUR/CAD began today at 1.4648 with significant bullish sentiment driving EUR/CAD's price action higher. So far today, price action has drawn out a distinct 1.4629 to 1.4728 range.
At the same time, Canada Wholesale Sales (MoM) (Mar) came out at -0.1, while a consensus of analysts was expecting -0.4. Canada Housing Starts (Apr) released today at 12:15 UTC with a figure of 261,600, while the previous figure was 213,800. Following a previous reading of 1.5%, Industrial Production in Euro Zone released today at 09:00 UTC fell short of the -2.5% figure expected by analysts with an actual reading of -4.1%.
Elsewhere, Canada Core Consumer Prices is expected tomorrow at 12:30 UTC. Euro Zone ECB President Lagarde speech scheduled to come out tomorrow at 14:00 UTC. Canada Manufacturing Sales (MoM) (Mar) is scheduled for tomorrow at 12:30 UTC.
Having set a peak of 1.5086 around 12 days ago, EUR/CAD is now trading 2.96% below this level.
