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February 25, 2023
Yesterday at a glance: bearish sentiment ensured EUR/CAD finished yesterday's session lower. However, despite the downward bias, EUR/CAD etched out a distinct 1.4326 to 1.4409 session range.
On the flip side, positive data for EUR/CAD released earlier when GDP in Germany fell short of market expectations (-0.2) with a reading of -0.4, continuing the decline from the previous figure of 0.5.
Amid the market gloom, Euro Zone CFTC EUR speculative net positions released yesterday at 20:30 UTC with a figure of 150,500, while the previous figure was 134,300. Canada Wholesale Sales (MoM) released yesterday at 13:30 UTC with a figure of three, while the previous figure was -0.8.
EUR/CAD's value drop coincided with the fact that AUD/USD dips 1.23% yesterday and closed at 0.681.
Positive performances can be seen by looking at other currencies as USD/JPY went up by 1.37% yesterday, and closed at 136.49. USD/SGD is trading around 1.3505 after ending yesterday's session at 1.3421 (up 0.63% today).
EUR/CAD is now trading 1.79% away from its significant high of 1.4611 first tested a month ago.
