3 Jul 2013
EUR/CAD recovery movement stalls
FXstreet.com (New York) - The EUR/CAD technical cross recently touched the 1.3678 level, capping a modest recovery movement that in began to weaken during US trading.
Earlier today, in Canada, International Merchandise Trade (May) yielded a figure of $-0.30B, beating expectations of $-0.73B. Moreover, Exports came in at $39.34B in May, missing estimates of $40.10B. Finally, Imports were reported at $39.64B in May, against a projection of $40.75B.
EUR/CAD eliminates losses
The EUR/CAD foreign exchange rate is currently retracing lower towards 1.3669 in these moments, down -0.13% thus far Wednesday. Despite initially breaking below support (1.3646), the pair has now stabilized its losses and will face the aforementioned level, coupled with 1.3614, and 1.3552 should losses mount, notes the Mataf.net analyst team.
Earlier today, in Canada, International Merchandise Trade (May) yielded a figure of $-0.30B, beating expectations of $-0.73B. Moreover, Exports came in at $39.34B in May, missing estimates of $40.10B. Finally, Imports were reported at $39.64B in May, against a projection of $40.75B.
EUR/CAD eliminates losses
The EUR/CAD foreign exchange rate is currently retracing lower towards 1.3669 in these moments, down -0.13% thus far Wednesday. Despite initially breaking below support (1.3646), the pair has now stabilized its losses and will face the aforementioned level, coupled with 1.3614, and 1.3552 should losses mount, notes the Mataf.net analyst team.