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June 14, 2023In a range-bound session favoring short positions, EUR/CAD remains constrained in a 1.4343 to 1.437 range and is currently trading close to 1.4354.
While price action maintains a negative bias, Germany ZEW Economic Sentiment Index released yesterday at 09:00 UTC with a figure of -8.5, while the previous figure was -10.7. Germany Consumer Price Index came out at -0.1%, while a consensus of analysts was expecting -0.1%. Germany ZEW Current Conditions (Jun) released yesterday at 09:00 UTC with a figure of -56.5, while the previous figure was -34.8.
In the meantime, negative performances are seen in other pairs, after ending yesterday's session at 1.6792, GBP/CAD lost 19 pips and is trading around 1.6773. GBP/JPY is down to 176.61, losing 18 pips, after closing at 176.8 in the preceding trading session.
Around the markets, mixed performances are seen by currencies as GBP/USD trades close to 1.2603, with no major change.
Furthermore, Euro Zone Deposit Facility Rate (Jun) is expected tomorrow at 12:15 UTC. Euro Zone Interest Rate figure is projected at four. It previously stood at 3.75; data will be released tomorrow at 12:15 UTC. Euro Zone ECB President Lagarde speech is scheduled for tomorrow at 14:15 UTC.
The currency pair has been trending lower for about a month. Having set a peak of 1.5086 around a month ago, EUR/CAD is now trading 4.78% below this level.
