EUR/CAD gains positive traction for a 4th successive day

Published: November 25 2022, 09:51 GMT+0

EUR/CAD gains positive traction for a 4th successive day

EUR/CAD trades at 1.3895 after gaining 16 pips (0.12%).

Nevertheless, Germany GDP beat analyst expectations of 0.3 and the previous reading of 0.1 with new data of 0.4. Data for Germany Business Climate Index published yesterday at 09:00 UTC came out at 86.3, beating projections of 85 and showing improvement over the preceding figure of 84.5.

At the same time, data for Germany GDP released today at 07:00 UTC is better than expected with 1.2%, but worse than previous figure of 1.7%.

A look at other currencies also shows bullish price action as having closed the previous session at 138.59, USD/JPY is up 0.59% today to currently trade at around 139.4. EUR/JPY ascends 0.49% to trade around 144.95. Having closed the previous session at 167.89, GBP/JPY is up 0.31% today to currently trade at around 168.42.

Furthermore, the market is looking at Euro Zone ECB's De Guindos speech is scheduled today at 17:00 UTC. Euro Zone CFTC EUR speculative net positions will be released today at 19:30 UTC.

Having set a significant low of 1.2895 3 months ago, EUR/CAD is trading 7.62% higher.

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