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April 07, 2023After closing at 1.4725 yesterday, EUR/CAD began today at 1.4734 with significant bullish sentiment driving EUR/CAD's price action higher. So far today, price action has drawn out a distinct 1.4712 to 1.4753 range.
This move comes while some more positive signs for EUR/CAD are out as data for Canada Employment Change published yesterday at 12:30 UTC came out at 34,700, beating projections of 12,000 and showing improvement over the preceding figure of 21,800.
At the same time, Canada Ivey PMI (Mar) came out at 58.2, while a consensus of analysts was expecting 56.1. Canada Unemployment Rate beats expectations of 5.1 with new data release of five, marks no change over previous data of five.
Furthermore, the market is looking at Euro Zone CFTC EUR speculative net positions is scheduled for today at 20:30 UTC.
The currency pair has been trending positively for about a month. As things stand, EUR/CAD is 14.19% away from a significant low of 1.2895 first set 7 months ago.
