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27 Mar 2013
Forex: EUR/CAD stumbles to session lows on upbeat Canadian CPI
FXstreet.com (Barcelona) - The EUR/CAD has been waning since it’s opening near the 1.3080 region. Having fallen lower continuously during European trading, the pair has now plunged to session lows in these moments near 1.2979/82. Coupled with weak European data, the recent release of upbeat Canadian CPI figures have prevented any rally or recovery from occurring today for the pair.
After falling through calculated support at 1.3040 and 1.3007, Mataf.net analysts point to corrective measures at 1.2954. On the ascension, resistances lie ahead at 1.3126 onto 1.3179 and finally 1.3212.
In Canada, the Consumer Price Index (YoY) climbed to +1.2% in February, against expectations of only +0.8%. In addition, BoC Consumer Price Index Core (MoM and YoY) has yielded +0.7% in February (against estimates of +0.3%) and +1.4% in the month of February (vs. +1.0% expected) respectively. Finally, the Consumer Price Index (MoM) has reported a figure of +1.2% in February, against a projected +0.7%.
After falling through calculated support at 1.3040 and 1.3007, Mataf.net analysts point to corrective measures at 1.2954. On the ascension, resistances lie ahead at 1.3126 onto 1.3179 and finally 1.3212.
In Canada, the Consumer Price Index (YoY) climbed to +1.2% in February, against expectations of only +0.8%. In addition, BoC Consumer Price Index Core (MoM and YoY) has yielded +0.7% in February (against estimates of +0.3%) and +1.4% in the month of February (vs. +1.0% expected) respectively. Finally, the Consumer Price Index (MoM) has reported a figure of +1.2% in February, against a projected +0.7%.