OctaFX | OctaFX Forex Broker
Open trading account

Forex: EUR/CAD pares gains to trade at 1.3411/12 after CPI in Canada

FXstreet.com (Barcelona) - The EUR/CAD stumbled Friday during US trading following the release of Canadian data. An attempt at the upside at 1.3453 (session high) was stonewalled and turned sharply downward towards 1.3411/12 in these moments. Despite this drop the cross still remains in positive territory, up +0.08%.

In Canada, the BOC Consumer Price Index Core (YoY) came in at +1.4% in March, beating consensus expectations of +0.2%. In addition, the Consumer Price Index (YoY) climbed +1.0% in March, exceeding the projected figure of +0.2%. Finally, the Consumer Price Index (MoM) grew +0.2% in March, matching estimates.

According to the Mataf.net technical analyst team, the EUR/CAD is slated to face calculated resistance at 1.3428, onto 1.3468, and finally 1.3506. Alternatively, a break lower will open up supports at 1.3350, then 1.3312, and ultimately 1.3272.

CORRECTION – Canada: Wholesale Sales flat in February

Statistics Canada informed that Wholesale Sales came in flat during February, missing the median at 0.4% and down from January’s 0.5%...
Read more Previous

Commodities Brief – Precious metals pare European gains, crude stuck at 87.00

Gold prices have fallen off its highs during European trading (1424), as sharp resistance at 1425 prevented a rise further. Gains were gradually shed leading up to the onset of US trading Friday with the yellow metal presently settling at USD $1407.25 per oz. in these moments. Ultimately however, the break above 1400 level supports the intraday bullish momentum, and accordingly a positive scenario has replaced a strictly bearish outlook previously – prolonged stability above 1400 is vital for this to remain so.
Read more Next
Start livechat