EUR/CAD reached 1.4403, breaking a 9 months record. Later, it lost 26 pips and is now trading at 1.4377.
Canada Interest Rate is next today at 15:00 UTC.
At the same time, Canada Ivey PMI (Nov) released yesterday at 15:00 UTC with a figure of 51.4, while the previous figure was 50.1. Euro Zone GDP came out at 0.3, better than analyst estimates of 0.2 and improving upon the previous reading of 0.2. Data for Euro Zone GDP released today at 10:00 UTC is better than expected with 2.3%, but worse than previous figure of 4.2%.
A look at other currencies also shows bullish price action as EUR/USD is up 0.64%. Having closed the previous session at 1.6552, GBP/CAD is up 0.68% today to currently trade at around 1.6664. Having closed the previous session at 1.2133, GBP/USD is up 0.61% today to currently trade at around 1.2207.
Furthermore, the market is looking at Canada Interest Rate is expected today at 15:00 UTC. Euro Zone ECB President Lagarde speech set for tomorrow at 12:00 UTC. Canada Ivey PMI (Nov) is scheduled for tomorrow at 15:00 UTC. Euro Zone ECB's Panetta speech will be released today at 14:30 UTC.
The currency pair has been trending positively for about a month. EUR/CAD now trading 9.71% above its 3-month low of 1.2895.