EUR/CAD rallied to 1.3931, hitting its highest point in 7 months. It later lost 48 pips and is now trading at 1.3882.
Euro Zone ECB Publishes Account of Monetary Policy Meeting is next today at 12:30 UTC.
On the flip side, highly important Business Climate Index data from Germany beat analyst expectations of 85 with a reading of 86.3.
At the same time, Germany Manufacturing PMI released yesterday at 08:30 UTC with a figure of 46.7, while the previous figure was 45.1. Germany Business Expectations came out at 80, better than analyst estimates of 77 and improving upon the previous reading of 75.9.
Elsewhere, other currency pairs are also gaining ground as GBP/USD gained 0.55% and is now trading at 1.2124.
Meanwhile, USD/JPY drops 0.93% to trade around 138.28. EUR/JPY drops 0.84% to trade around 143.9.
Also worthy of note, Germany GDP is expected tomorrow at 07:00 UTC. Euro Zone ECB Publishes Account of Monetary Policy Meeting will be released today at 12:30 UTC. Germany GfK Consumer Climate (Dec) scheduled to come out tomorrow at 07:00 UTC. Germany GDP figure is projected at 1.1%. It previously stood at 1.1%; data will be released tomorrow at 07:00 UTC.
EUR/CAD is now trading 7.64% away from its significant low of 1.2895 first tested 2 months ago.