Here are the key factors to keep in mind today for Euro trades:
- Eurozone Current Account: The Eurozone Current Account (s.a.) for February is predicted at €33.2B and the Eurozone Current Account (n.s.a) is predicted at €17.2B. Forex traders can compare this to the Eurozone Current Account (s.a.) for January which was reported at €36.8B and to the Eurozone Current Account (n.s.a.) which was reported at €9.3B.
- Eurozone Trade Balance: The Eurozone Trade Balance for February is predicted at €12.3B. Forex traders can compare this to the Eurozone Trade Balance for January which was reported at €15.5B.
- Eurozone CPI and Eurozone Core CPI: The Eurozone CPI for March is predicted to increase by 1.0% monthly and by 1.4% annualized. Forex traders can compare this to the Eurozone CPI for February which increased by 0.3% monthly and by 1.4% annualized. The Eurozone Core CPI for March is predicted to increase by 1.3% monthly and by 0.8% annualized. Forex traders can compare this to the Eurozone Core CPI for February which increased by 1.3% monthly and by 0.8% annualized.
Here are the key factors to keep in mind today for Canadian Dollar trades:
- Chinese Retail Sales: Chinese Retail Sales for March increased by 8.7% annualized. Economists predicted an increase of 8.4% annualized. Forex traders can compare this to Chinese Retail Sales for February which increased by 8.2% annualized.
- Chinese Industrial Production: Chinese Industrial Production for March increased by 8.5% annualized. Economists predicted an increase of 5.9% annualized. Forex traders can compare this to Chinese Industrial Production for February which increased by 5.3% annualized.
- Chinese Fixed Assets ex Rural: Chinese Fixed Assets ex Rural for March increased by 6.3% annualized. Economists predicted an increase of 6.3% annualized. Forex traders can compare this to Chinese Fixed Assets ex Rural for February which increased by 6.1% annualized.
- Chinese Property Investment: Chinese Property Investment for March increased by 11.8% annualized. Forex traders can compare this to Chinese Property Investment for February which increased by 11.6% annualized.
- Chinese Surveyed Jobless Rate: The Chinese Surveyed Jobless Rate for March was reported at 5.2%. Forex traders can compare this to the Chinese Surveyed Jobless Rate for February which was reported at 5.3%.
- Chinese GDP: The Chinese GDP for the first-quarter increased by 1.4% quarterly and by 6.4% annualized. Economists predicted an increase of 1.4% quarterly and of 6.3% annualized. Forex traders can compare this to the Chinese GDP for the fourth-quarter which increased by 1.5% quarterly and by 6.4% annualized.
- Canadian International Merchandise Trade Balance: The Canadian International Merchandise Trade Balance for February is predicted at -C$3.50B. Forex traders can compare this to the Canadian International Merchandise Trade Balance for January which was reported at -C$4.25B.
- Canadian CPI: The Canadian CPI for March is predicted to increase by 0.7% monthly and by 1.9% annualized. Forex traders can compare this to the Canadian CPI for February which increased by 0.7% monthly and by 1.5% annualized. The Canadian Core CPI for March is predicted to increase by 1.8% annualized. Forex traders can compare this to the Canadian Core CPI for February which increased by 1.8% annualized. The Core CPI-Median for March is predicted to increase by 1.8% annualized and the Core CPI-Trim is predicted to increase by 1.8% annualized. Forex traders can compare this to the Core CPI-Median for February which increased by 1.8% annualized and to the Core CPI-Trim which increased by 1.9% annualized.
Should price action for the EURCAD remain inside the or breakout above the 1.5040 to 1.5140 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.5070
- Take Profit Zone: 1.5330 – 1.5440
- Stop Loss Level: 1.4970
Should price action for the EURCAD breakdown below 1.5040 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.4990
- Take Profit Zone: 1.4760 – 1.4835
- Stop Loss Level: 1.5070
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
