German retail sales for October disappointed with a strong contraction and French consumer spending came in lower than expected with a sharp downward revision to the previous month. Employment figures out of Germany and Italy, as well as CPI data out of the Eurozone, are expected next. The EURCAD maintained its bullish trend, but how will it be impacted by more economic data? Today’s fundamental analysis will take a look at price action in both directions.

Forex traders will finish the trading week with GDP data out of Canada. Economists expected a small monthly increase and a strong quarterly slowdown. The Bank of Canada is watching economic data closely as it opened the door for a potential interest rate cut. Strong data would keep the central bank on the sidelines and support a stronger Canadian Dollar. How will the EURCAD react following the release of Canadian GDP data? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.