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July 03, 2023After closing at 1.4447 Friday, EUR/CAD opened today at 1.4451, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, EUR/CAD retains a distinct 1.4419 to 1.4459 daily range.
EUR/CAD is currently trading at 1.4435 following the release of Manufacturing PMI data from the Germany.
While price action maintains a negative bias, Spain Manufacturing PMI released today at 07:15 UTC with a figure of 48, while the previous figure was 48.4.
In the meantime, negative performances are also seen in other pairs as GBP/NZD closed at 2.0628 (down 0.25%).
Though EUR/CAD has been dropping, other pairs have been performing better: USD/CHF rallies 0.5% to trade around 0.8993. Having closed the previous session at 144.26, USD/JPY is up 0.33% today to currently trade at around 144.73.
Furthermore, Spain Unemployment Change is projected to outperform its last figure with -63,500. It previously stood at -49,300; data will be released tomorrow at 07:00 UTC. Germany Trade Balance (May) is scheduled for tomorrow at 06:00 UTC. Germany Buba President Nagel speech is expected tomorrow at 16:00 UTC.
Having set a peak of 1.5086 around 2 months ago, EUR/CAD is now trading 4.24% below this level.
