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Trading news
8 Mar 2013
Forex: EUR/CAD collapses to 1.3325/29 after Canadian data
The EUR/CAD has been roiled by a massive plunge, following the release of Canadian data Friday. At the onset of American trading the pair has lost its way, off -1.22% from its opening, and trading at 1.3325/29 in these moments.
In Canada, Housing Starts s.a. (YoY) came in at 180.7K in February, against consensus expectations of 175K. In addition, Labor Productivity (QoQ) yielded a result o +0.1% in Q4, compared with projections calling for no change. The Net Change in Employment (February) has reported 50.7K in February, beating expectations of 8.0K, and compared with -21.9K previously. Finally the Unemployment Rate (February) was held at 7.0%, vs. estimates of 7.1%.
After previously breaking support at 1.3419, then 1.3346, Mataf.net analysts calculate the next short-term support for the EUR/CAD at 1.3302. Conversely, a break above 1.3536 will lead to resistances at 1.3580, and ultimately 1.3653.
In Canada, Housing Starts s.a. (YoY) came in at 180.7K in February, against consensus expectations of 175K. In addition, Labor Productivity (QoQ) yielded a result o +0.1% in Q4, compared with projections calling for no change. The Net Change in Employment (February) has reported 50.7K in February, beating expectations of 8.0K, and compared with -21.9K previously. Finally the Unemployment Rate (February) was held at 7.0%, vs. estimates of 7.1%.
After previously breaking support at 1.3419, then 1.3346, Mataf.net analysts calculate the next short-term support for the EUR/CAD at 1.3302. Conversely, a break above 1.3536 will lead to resistances at 1.3580, and ultimately 1.3653.