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May 25, 2023After closing the previous trading day at 1.4608, EUR/CAD is up to 1.4615, which makes for a move of 0.04%/6 pips today.
Germany GDP data will be released today at 06:00 UTC, with an expected improvement to -0.1 (previous figure was -0.4).
This move comes while some more positive signs for EUR/CAD are out as Germany Business Climate Index published yesterday at 08:00 UTC came out at 91.7, falling short of the 93 projections and continuing its decline from the previous 93.4 figure.
At the same time, Business Expectations in Germany fell short of market expectations (91.9) with a reading of 88.6, continuing the decline from the previous figure of 91.7. Germany Current Assessment (May) came out at 94.8, while a consensus of analysts was expecting 94.7.
A look at other currencies also shows bullish price action as GBP/NZD is up 0.23% to 2.0276. EUR/NZD gained 0.24% and is now trading at 1.7631.
Other currencies are showing mixed performance as USD/SGD trades around 1.35, with no major change.
Also worthy of note, Germany GDP is projected to outperform its last figure with -0.1, having previously been at -0.4. The figure will be published today at 06:00 UTC.
The market is looking forward to the release of new data: Germany GDP projected to decline to 0.2% while previous data was 0.3%; data will be released today at 06:00 UTC. Germany GfK Consumer Climate (Jun) is expected today at 06:00 UTC.
Having set a peak of 1.5086 around 22 days ago, EUR/CAD is now trading 3.17% below this level.
