28 Jun 2013
EUR/CAD easing off highs
FXstreet.com (New York) - The EUR/CAD foreign exchange rate peaked recently at 1.3740 in recent moments, only to ease on the heels of Canadian data Friday.
EUR/CAD still operating positively
Following the recent easing, the EUR/CAD is entrenched in positive territory at 1.3723, up +0.46% during US trading. Following a break above the 1.3708 and 1.3738 resistances, Mataf.net analysts identify the next short-term measures of correction at 1.3799. Meanwhile, support lies below at 1.3671, onto 1.3556 and 1.3526.
EUR/CAD deeper USD correction likely
In Canada, Gross Domestic Product (MoM) was reported at +0.1% in April, matching consensus expectations. Moreover, Industrial Product Price (MoM) has climbed 0.0% in May, vs. projections calling for +0.1%. Finally, the Raw Material Price Index (May) has only grown +0.2%, missing expectations of +0.6%.
EUR/CAD still operating positively
Following the recent easing, the EUR/CAD is entrenched in positive territory at 1.3723, up +0.46% during US trading. Following a break above the 1.3708 and 1.3738 resistances, Mataf.net analysts identify the next short-term measures of correction at 1.3799. Meanwhile, support lies below at 1.3671, onto 1.3556 and 1.3526.
EUR/CAD deeper USD correction likely
In Canada, Gross Domestic Product (MoM) was reported at +0.1% in April, matching consensus expectations. Moreover, Industrial Product Price (MoM) has climbed 0.0% in May, vs. projections calling for +0.1%. Finally, the Raw Material Price Index (May) has only grown +0.2%, missing expectations of +0.6%.