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

Published: November 25 2022, 10:31 GMT+0

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

Tentatively higher from an earlier low of 1.3869, EUR/CAD is up to 1.3904 today, adding 26 pips, or 0.19%, to yesterday's closing price of 1.3878.

Nevertheless, data for Germany GDP published today at 07:00 UTC came out at 0.4, beating projections of 0.3 and showing improvement over the preceding figure of 0.1. Highly important Business Climate Index data from Germany beat analyst expectations of 85 with a reading of 86.3.

Meanwhile, 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%.

Other currencies are also rising as having closed the previous session at 144.25, EUR/JPY is up 0.57% today to currently trade at around 145.08. USD/JPY increases 0.48% to trade around 139.26. Having closed the previous session at 167.89, GBP/JPY is up 0.48% today to currently trade at around 168.69.

The market is looking forward to the release of new data: Euro Zone ECB's De Guindos speech scheduled to come out today at 17:00 UTC. Euro Zone CFTC EUR speculative net positions is expected today at 19:30 UTC.

After setting a supportive marker at 1.2895 around 3 months ago, EUR/CAD is now trading 7.62% above this level.

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