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March 03, 2023Slightly weaker but mostly flat: EUR/CAD is currently trading at 1.441 as it maintains an active range between 1.4393 and 1.4551.
While price action maintains a negative bias, Euro Zone Consumer Price Index released yesterday at 10:00 UTC with a figure of 8.5%, while the previous figure was 8.6%. Italy Consumer Price Index came out at 0.3%, while a consensus of analysts was expecting 1.4%. Fresh Core Consumer Prices data from Euro Zone came out at 5.6%.
Though EUR/CAD has been dropping, other pairs have been performing better: having closed the previous session at 1.1943, GBP/USD is up 0.18% today to currently trade at around 1.1965. GBP/JPY is up 0.17%. GBP/NZD is up 0.14%.
Furthermore, Canada Building Permits is expected today at 13:30 UTC. Germany Trade Balance (Jan) will be released today at 07:00 UTC. Euro Zone Composite PMI figure is projected at 52.3. It previously stood at 50.3; data will be released today at 09:00 UTC.
EUR/CAD is now trading 11.75% away from its significant low of 1.2895 first tested 6 months ago.
