EUR/CAD retreats 36 pips from 1 year high

Published: January 25 2023, 20:35 GMT+0

EUR/CAD retreats 36 pips from 1 year high

EUR/CAD rallied to 1.4643, hitting its highest point in 1 year. It later lost 36 pips and is now trading at 1.4607.

EUR/CAD is currently trading at 1.4607 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.

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.

Other currencies are also rising as having closed the previous session at 1.8972, GBP/NZD is up 0.84% today to currently trade at around 1.9132. Having closed the previous session at 1.6479, GBP/CAD is up 0.66% today to currently trade at around 1.6588.

While EUR/CAD is up today, these currencies are lagging behind: USD/SGD is trading around 1.3132 (down 62 pips).

Elsewhere, 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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