EUR/CAD retreats 17 pips from 1 year high

Published: January 26 2023, 07:15 GMT+0

EUR/CAD retreats 17 pips from 1 year high

EUR/CAD reached 1.4639, breaking a 1 year record. Later, it lost 17 pips and is now trading at 1.4622.

On the flip side, 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 came out at 4.5, while a consensus of analysts was expecting 4.5. France Jobseekers Total released yesterday 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 USD/CAD is up 0.2%. GBP/CAD increases 0.11% to trade around 1.6609.

Other currencies are showing mixed performance as GBP/USD moves 0.08% to trade around 1.2393.

Also worthy of note, Euro Zone ECB President Lagarde speech set for tomorrow at 10:30 UTC. Spain GDP is expected tomorrow at 08:00 UTC. Germany Buba Balz speech is expected 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.