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June 09, 2023Tentatively higher from an earlier low of 1.4396, EUR/CAD is up to 1.4407 today, adding 7 pips, or 0.05%, to yesterday's closing price of 1.44.
Canada Employment Change data will be released today at 12:30 UTC, with an expected decline to 23,200.
At the same time, new Euro Zone GDP data fell short of the zero projected by analysts with a reading of -0.1 while failing to improve upon the previous reading from last month (-0.1). Following a previous reading of 1.8%, GDP in Euro Zone released yesterday at 09:00 UTC fell short of the 1.2% figure expected by analysts with an actual reading of 1%. France Non-Farm Payrolls (QoQ) (Q1) released yesterday at 05:30 UTC with a figure of 0.3, while the previous figure was 0.2.
A look at other currencies also shows bullish price action as USD/JPY increases 0.32% to trade around 139.35. EUR/JPY ascends 0.28% to trade around 150.18. GBP/JPY gained 0.25% and is now trading at 174.84.
Also worthy of note, today at 12:30 UTC data for Canada Employment Change will be released, with an expected decline to 23,200 from the preceding figure of 41,400.
Furthermore, the market is looking at today at 12:30 UTC data for Canada Unemployment Rate will be released, with an expected decline to 5.1 from the preceding figure of five. Euro Zone ECB's De Guindos speech set for today at 08:00 UTC.
The currency pair has been trending lower for about a month. As things stand, EUR/CAD is 4.55% away from a significant high of 1.5086, first set a month ago.
