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May 26, 2023Tentatively higher from an earlier low of 1.4567, EUR/CAD is up to 1.464 today, adding 11 pips, or 0.08%, to yesterday's closing price of 1.4628.
EUR/CAD upside coincides with further encouraging market factors as Germany GDP released earlier showed a marked improvement to -0.3 from the preceding data of -0.4, but fell short of the -0.1 figure forecast by a consensus of market analysts.
At the same time, Canada Manufacturing Sales (MoM) released yesterday at 12:30 UTC with a figure of -0.2, while the previous figure was 0.7. Germany GDP published yesterday at 06:00 UTC came out at -0.2%, falling short of the 0.2% projections and continuing its decline from the previous 0.3% figure.
Elsewhere, other currency pairs are also gaining ground as EUR/AUD is up 0.14%. GBP/CAD is up 0.12% to 1.682.
Other currencies are showing mixed performance as EUR/JPY trades around 150.11, with no major change.
The market is looking forward to the release of new data: Germany Buba Mauderer speech set for today at 07:05 UTC. Euro Zone ECB's Enria speech is scheduled today at 07:15 UTC. Euro Zone ECB's Lane speech set for today at 07:40 UTC.
EUR/CAD is now trading 3.04% away from its significant high of 1.5086 first tested 23 days ago.
