Forex traders will get plenty of PMI data out of the Eurozone today which could move the Euro. The economy has slowed down a lot more than economists predicted and the release of this morning’s factory orders out of Germany is anticipated to deliver the latest piece of evidence that the Eurozone is likely to cool further. What impact will today’s PMI data have on the EURCAD? Today’s fundamental analysis will take a look at price action in both directions.

The Canadian Dollar experienced a rise in volatility after the Bank of Canada kept interest rates unchanged, but indicated that an interest rate cut may follow soon as the economy is slowing down. Forex traders will get the Ivey Manufacturing PMI for October and economists expected a further contraction, but at a reduced pace. How will this impact price action in the EURCAD? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.