EUR/CAD Live News

This page provides live coverage and news analysis on the EUR/CAD currency pair

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Nov. 27, 2020

EUR/CAD is up four days in a row, gaining 37 pips to 1.5539.

(23:51) GMT

Currently light green but with no clear-cut direction, EUR/CAD trading at 1.5539 after ranging today between 1.5545 and 1.5477.

Meanwhile, France Consumer Price Index was released today at 7:45 AM with a figure of 0.2, while the previous figure was zero. France's HICP (MoM) beat the 0.1 projections, with 0.2. Germany GfK Consumer Climate (Dec) fell short of the -5 projections, with -6.7 and continued its downward trajectory from the previous figure of -3.2.

A look at other markets shows behavior that usually indicates a green move for EUR/CAD as USD/MXN gained 0.17% from 20.0042 to 20.038 (33 pips).

At the same time, Gold lost 23.6 dollars from the start of the session, trading at 1,782 levels.

EUR/CAD approaches the closest resistance line at 1.5642 and is now only 99 pips away, crossing it might suggest further gains are ahead. At 1.5518, EUR/CAD made an initial breakout above the 50 day Simple Moving Average. The upper Bollinger band is at 1.5598, indicating a negative correction might be next. Overall, looking at all the technical indicators, it seems a reverse of course in the short term might be next for EUR/CAD

Nov. 26, 2020

Stable day for EUR/CAD, trading around 1.55

(22:51) GMT

After starting the session at 1.5491 EUR/CAD spiked to 1.5519, dropped back to starting point range, and rallied again to 1.55.

This limbo state for EUR/CAD is reflected by market data published as Germany GfK Consumer Climate (Dec) fell short of the -5 projections, with -6.7 and continued its downward trajectory from the previous figure of -3.2. France Jobseekers Total was released on Wednesday at 11:00 AM with a figure of 3549.7, This is better than the previous number of 3606.3.

Meanwhile, mixed performance are seen elsewhere as USD/MXN is green with a 0.28% gain (56 pips), to 20.0032 levels. USD/ZAR is trading around 15.2 after starting the session at 15.1243 (up 0.5%).

EUR/CAD is getting close and is now only 130 pips from the support line at 1.5364. Dipping below it might indicate further losses are ahead. At 1.55, EUR/CAD made an initial breakout below the 10 day Simple Moving Average. The upper Bollinger band is at 1.5589, indicating a downward move might be next. Overall, looking at all the technical indicators, it seems EUR/CAD might be pointing down in the short term.

Data to be released later might clear up some of the fog for EUR/CAD as French Consumer Spending is projected to outperform the last figure at 2.9, while it previously stood at -5.1, data will be released tomorrow at 7:45 AM. France's GDP figure is projected at 18.2 while it previously stood at 18.2, data will be released tomorrow at 7:45 AM. The French Consumer Price Index figure is projected at zero while it previously stood at zero, data will be released tomorrow at 7:45 AM.

Nov. 25, 2020

EUR/CAD crawls to 1.5492 (a 0.23% gain) after starting the day at 1.5456

(22:51) GMT

Currently light green but with no clear-cut direction, EUR/CAD trading at 1.5492 after ranging today between 1.5509 and 1.5448.

The EUR/CAD green move takes place amid mixed market indicators – Data for Germany Business Climate Index released Tuesday at 9:00 AM is better than expected at 90.7, but worse than the previous figure of 92.5.

Meanwhile, data for Germany's GDP released on Tuesday at 7:00 AM came out at -3.9, beating projections of -4.1 and showing improvement over the preceding figure of -11.3. Data for Germany Current Assessment (Nov) released on Tuesday at 9:00 AM is better than expected with 90, but worse than the previous figure of 90.4.

USD/MXN lost 54 pips from the start of the session, trading at 19.948 levels. USD/ZAR dropped -0.46% (69 pips) to 15.1213.

EUR/CAD approaches the closest resistance line at 1.5642 and is now only 146 pips away, crossing it might suggest further gains are ahead. Although up today, worth noting that at 1.5486, EUR/CAD made an initial breakout below the 21 day Simple Moving Average earlier. The upper Bollinger band is at 1.5588, indicating a negative correction might be next. Overall, looking at all the technical indicators, it seems EUR/CAD is likely to reverse course and start pointing down in the short term.

The market is looking forward to the Euro Zone ECB Publishes Account of Monetary Policy Meeting which will be released tomorrow at 11:30 AM. The Euro Zone ECB Monetary Policy Statement is excepted tomorrow at 12:30 PM. Germany's new GfK Consumer Climate (Dec) data will be available tomorrow at 7:00 AM. Data is expected to decline to -5 from its previous value of -3.1.

Nov. 24, 2020

EUR/CAD nudges to 1.5456 after starting the day at 1.5486 (down -0.19%)

(22:51) GMT

EUR/CAD recovered back almost all the way to 1.5486 after dipping down to 1.5445.

This downslide might be related to financial indicators data published earlier, as the Germany's Business Climate Index released today at 9:00 AM is better than expected at 90.7 but down from preceding data of 92.5 according to new data.

Meanwhile, data for Germany's GDP released today at 7:00 AM came out at -3.9, beating projections of -4.1 and showing improvement over the preceding figure of -11.3. Data for Germany Current Assessment (Nov) released today at 9:00 AM is better than expected with 90, but worse than the previous figure of 90.4.

Taking a wider perspective, performance of these other symbols usually suggests a setback for EUR/CAD as USD/ZAR dropped -1.44% (222 pips) to 15.1841. USD/MXN lost 132 pips from the start of the session, trading at 20.0118 levels.

EUR/CAD is getting closer and is now only 82 pips from the support line at 1.5364. Dipping below it might indicate further losses are ahead. The upper Bollinger band at 1.5593, indicating a further downward move might be next. Overall, looking at all the technical indicators, it seems EUR/CAD is neutral for the immediate future, with no clear-cut direction.

The market will be looking forward to the upcoming release of the following indicators: French Jobseekers Total is expected tomorrow at 11:00 AM. German Buba Mauderer's speech is set for tomorrow at 7:40 AM. The Euro Zone ECB Financial Stability Review is scheduled to come out tomorrow at 9:00 AM.

Nov. 23, 2020

EUR/CAD down 43 pips(-0.28%), trading around 1.5484

(22:51) GMT

EUR/CAD drops 43 pips early on and stays at the 1.5484 range.

Meanwhile, Euro Zone Services PMI fell short of the 42.5 projections, at 41.3 and continued its downward trajectory from the previous figure of 46.9. The Euro Zone Composite PMI fell short of the 45.8 projections, with 45.1 and continued its downward trajectory from the previous figure of 50. The Euro Zone Manufacturing PMI released today at 9:00 AM is better than expected at 53.6 but down from the preceding data of 54.8 according to new data.

Taking a wider perspective, performance of these other symbols usually suggests a setback for EUR/CAD as Gold lost 37.2 dollars from the start of the session, trading at 1,835.2 levels.

Positive performance can be seen looking at other symbols, as USD/MXN is trading around 20.1432 after starting the session at 20.0937 (up 0.25%).

At 1.549, EUR/CAD made an initial breakout below the 21 day Simple Moving Average. Before this recent down, turn, EUR/CAD got as close as 156 pips to the resistance line at 1.5642, Crossing it might have suggested further gains are ahead.

The market will be looking forward to the upcoming release of the following indicators: Germany's Business Climate Index seems to be pointing downwards with an expected 90.7 while the preceding figure was 92.7, New data will be released tomorrow at 9:00 AM. Euro Zone ECB President Lagarde's speech is set for tomorrow at 2:00 PM. The German Current Assessment (Nov) is expected to come out at 87.2 when it's released tomorrow at 9:00 AM, This is a decline from the preceding data which was 90.3.