Forex: EUR/CAD eases to 1.3012/13 on Canadian GDP

FXstreet.com (Barcelona) - The EUR/CAD has edged lower on the release of upbeat Canadian data Thursday, having fallen from a session high of 1.3039 during US trading. While still trading positively at +0.18%, the pair is now settled at 1.3012/13 at the time of writing.

In Canada, Gross Domestic Product (MoM) has yielded a result of +0.2% in January, beating expectations of +0.1%. In addition, Industrial Product Price (MoM) was reported at +1.4%, against an estimated figure of +0.4%. Finally, the Raw Material Price Index came in at +2.2% in February, vs. a projected +2.0%.

According to the Mataf.net Analyst Team, the EUR/CAD will encounter resistance at 1.3051 onto 1.321, and finally 1.3163. On the decline, the pair is slated to face short-term support at 1.2939, ahead of 1.2897, and finally 1.2827.