EUR/CAD rallies beyond 1.4636 for the first time in 1 year

Published: January 26 2023, 04:51 GMT+0

EUR/CAD rallies beyond 1.4636 for the first time in 1 year

While yesterday ended at 1.4603, today, EUR/CAD rallied above 1.4636 for the first time in 1 year and gained 19 pips — now trading at 1.4622.

Nevertheless, highly important Business Climate Index data from Germany beat analyst expectations of 90.2 with a reading of 90.2.

Meanwhile, Canada Interest Rate came out at 4.5, while a consensus of analysts was expecting 4.5. Data for France Jobseekers Total released yesterday at 11:00 UTC is better than expected with 2.82 million, but worse than previous figure of 2.81 million.

While EUR/CAD is up today, these currencies are lagging behind: EUR/JPY goes down 0.18% to trade around 141.1. GBP/JPY closed at 160.33 (down 0.17%). USD/JPY is trading around 129.29 (down 22 pips).

The market is looking forward to the release of new data: Euro Zone ECB President Lagarde speech is expected tomorrow at 10:30 UTC. Spain GDP is expected tomorrow at 08:00 UTC. Germany Buba Balz speech will be released tomorrow at 17:00 UTC. Canada Wholesale Sales (MoM) is scheduled for today at 13:30 UTC.

EUR/CAD now trading 7.74% above its 3-month low of 1.2895.

Back