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July 04, 2023EUR/CAD drops from 1.4452 to 1.442, losing 32 pips (0.22%) today.
Amid the market gloom, Spain Unemployment Change released earlier showed a marked improvement to -50,300 from the preceding data of -49,300, but fell short of the -63,500 figure forecast by a consensus of market analysts. Germany Trade Balance (May) released today at 06:00 UTC with a figure of 14.4 billion, while the previous figure was 16.5 billion. Spain Manufacturing PMI came out at 48, while a consensus of analysts was expecting 47.7.
In the meantime, negative performances are also seen in other pairs as EUR/NZD is down 111 pips from the beginning of the session and now trades around 1.7618. GBP/NZD is down to 2.0549, losing 68 pips, after closing at 2.0618 in the preceding trading session.
Though EUR/CAD has been dropping, other pairs have been performing better: NZD/USD improves 0.51% to trade around 0.6185.
Furthermore, Euro Zone Composite PMI figure is projected at 50.3. It previously stood at 52.8; data will be released tomorrow at 08:00 UTC. Italy Services PMI is expected tomorrow at 07:45 UTC. Germany Buba President Nagel speech set for today at 16:00 UTC.
Having set a peak of 1.5086 around 2 months ago, EUR/CAD is now trading 4.21% below this level.
