EUR/CAD retreats 29 pips from 1 year high

Published: January 25 2023, 21:56 GMT+0

EUR/CAD retreats 29 pips from 1 year high

EUR/CAD reached 1.4643, breaking a 1 year record. Later, it lost 29 pips and is now trading at 1.4613.

EUR/CAD is currently trading at 1.4613 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.

Meanwhile, 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.

A look at other currencies also shows bullish price action as having closed the previous session at 1.8972, GBP/NZD is up 0.86% today to currently trade at around 1.9136. Having closed the previous session at 1.6479, GBP/CAD is up 0.75% today to currently trade at around 1.6603.

While EUR/CAD is up today, these currencies are lagging behind: USD/SGD falls 0.52% to trade around 1.3126.

Also worthy of note, Canada Wholesale Sales (MoM) is scheduled for tomorrow at 13:30 UTC.

EUR/CAD now trading 7.45% above its 3-month low of 1.2895.

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