EUR/CAD retraces 36 pips from 1 year high, trades at 1.4606

Published: January 25 2023, 19:31 GMT+0

EUR/CAD retraces 36 pips from 1 year high, trades at 1.4606

EUR/CAD reached 1.4643, breaking a 1 year record. Later, it lost 36 pips and is now trading at 1.4606.

EUR/CAD is currently trading at 1.4606 following the release of BOC Press Conference data from the Canada.

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

At the same time, Canada Interest Rate released today at 15:00 UTC with a figure of 4.5, while the previous figure was 4.25. Data for France Jobseekers Total released today at 11:00 UTC is better than expected with 2.82 million, but worse than previous figure of 2.81 million.

Other currencies are also rising as GBP/NZD is up 0.8%. GBP/CAD jumps 0.69% to trade around 1.6593.

Meanwhile, USD/SGD closed at 1.3134 (down 0.46%).

The market is looking forward to the release of new data: Canada Wholesale Sales (MoM) will be released tomorrow at 13:30 UTC.

The past 3 months have been positive for EUR/CAD as it added 7.45% compared to its 3-month low of 1.2895.

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