After closing the previous trading day at 1.3459, EUR/CAD went up to 1.3512 only to drop back; still positive overall today, now trading at 1.3482.
EUR/CAD is currently trading at 1.3482 following the release of Manufacturing PMI data from the Germany.
At the same time, Euro Zone Composite PMI released today at 08:00 UTC with a figure of 47.1, while the previous figure was 48.1. France Manufacturing PMI came out at 47.4, while a consensus of analysts was expecting 47.1. Fresh Services PMI data from France came out at 51.3.
Elsewhere, other currency pairs are also gaining ground as GBP/NZD is up 0.98% to 1.9935. USD/JPY is up 1.1%.
While EUR/CAD is up today, these currencies are lagging behind: after ending Friday's session at 0.6394, AUD/USD lost 93 pips and is trading around 0.63.
Positive indicators for EUR/CAD are expected going forward as projections for Germany Business Climate Index are set for a continuation of decline with 83.3 while previous data was 84.3; data will be released tomorrow at 08:00 UTC.
Furthermore, the market is looking at Germany Current Assessment (Oct) scheduled to come out tomorrow at 08:00 UTC. Germany Business Expectations projected to come out at 74.9 — worse than previous data of 75.2; data will be released tomorrow at 08:00 UTC.
Having set a significant low of 1.2895 a month ago, EUR/CAD is trading 4.38% higher.