EUR/CAD retracted 34 pips from 1 year high and trades at 1.4608

Published: January 25 2023, 21:00 GMT+0

EUR/CAD retracted 34 pips from 1 year high and trades at 1.4608

EUR/CAD reached 1.4643, breaking a 1 year record. Later, it lost 34 pips and is now trading at 1.4608.

EUR/CAD is currently trading at 1.4608 following the release of BOC Press Conference data from the Canada.

On the flip side, new Business Climate Index data from Germany matched market expectations with a reading of 90.2 — a positive step in contrast to previous data of 88.6 from last month.

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. France Jobseekers Total released today at 11:00 UTC is better than expected at 2.82 million but down from preceding data of 2.81 million according to new data.

Other currencies are also rising as having closed the previous session at 1.8972, GBP/NZD is up 0.78% today to currently trade at around 1.9121. Having closed the previous session at 1.6479, GBP/CAD is up 0.69% today to currently trade at around 1.6594.

At the same time, USD/SGD is down 64 pips from the beginning of the session and now trades around 1.313.

Furthermore, the market is looking at Canada Wholesale Sales (MoM) is expected 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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