EUR/CAD Live News

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May. 7, 2021

EUR/CAD down to 1.4649, the last time it was this low was 1 year ago.

(23:51) GMT

After starting the day at 1.4649 EUR/CAD dropped to 1.4649, hitting its lowest point in 1 year, it later recovered 107 pips and is now trading at 1.4757 (Trade EUR/CAD with FXTM now).

The EUR/CAD green move comes while some more encouraging signs are out as Canada's Ivey PMI (Apr) released today at 2:00 PM is better than expected at 60.6 but down from preceding data of 72.9 according to new data.

At the same time, Canada Employment Change published today at 12:30 PM came out at -207,100, falling short of the -175,000 projections and continuing its decline from the previous 303,100 figure.

More data out yesterday as Euro Zone CFTC EUR speculative net positions were released today at 7:30 PM with a figure of 84,800, This is better than the previous number of 81,000.

As the day reaches an end, a chart visual study suggests the nearest resistance level is at 1.5177. In terms of trend indicators, we can see that at 1.4767, EUR/CAD made an initial breakout above the 5 day Simple Moving Average, an indication of a positive trend. Asset volatility analysis shows that the lower Bollinger band is at 1.4615, indicating further gains might be next.

Overall, looking at the technical analysis landscape, it seems EUR/CAD might continue pointing upwards in the short term.

A look at other markets also shows green moves as the S&P 500 climbs to a new all-time high at 4,236. The Euro is up 102 pips, last time it gained this much in one day was December 2020.

At the same time, Singapore dollar fell by 0.61%, its largest drop since May 2020. For the first time in 2 months, pound/dollar rose above the 1.4 level.

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Week to date

At 1.4643 EUR/CAD down to its lowest value in 1 year .

EUR/CAD recovered back to 1.4757 after dipping down to 1.4643 in a week that started at 1.4767. (Start trading EUR/CAD at FXTM today).

This limbo state for EUR/CAD is reflected by market data published as Canada Ivey PMI (Apr) released today at 2:00 PM is better than expected at 60.6 but down from preceding data of 72.9 according to new data. Released today at 7:30 PM, Euro Zone's CFTC EUR speculative net positions showed an uptick coming in at 84,800, up from the previous number of 81,000.

While EUR/CAD is pretty flat so far today, mixed performances are seen elsewhere as Gold hits $1,841.2, highest rate in 2 months.