EUR/CAD sinks to 1.4380 post-data

The Canadian dollar has sharply appreciated vs. the euroepan currency today, sending EUR/CAD to test session lows in the 1.4380 area.

EUR/CAD weaker post-data

The cross has picked up extra downside pace following upbeat results from the Canadian docket today.

In fact, inflation figures tracked by the CPI, shoed headline consumer prices in Canada rose more than initially estimated 0.2% MoM in June and 1.5% over the last twelve months; Core prices measured by the BoC also rose 2.1% on a yearly basis.

Further data saw Retail Sales expanding at a monthly pace of 0.2% during May, while Core sales have risen 0.9% vs. 0.3% forecasted.

The cross is thus retreating for the first time since Monday, coming back from earlier multi-day tops in the 1.4500 neighbourhood.

EUR/CAD levels to watch

As of writing the cross is losing 0.17% at 1.4405 with the next support at 1.4273 (low Jul.15) followed by 1.4240 (post-Brexit low Jun.24) and then 1.4174 (2016 low Apr.28). On the other hand, a surpass of 1.4499 (55-day sma) would expose 1.4540 (high Jul.11) and finally 1.4642 (high Jun.16).