• The European Central Bank held its benchmark refinancing rate at 0 percent for the tenth consecutive meeting and left the pace of its bond-purchases unchanged on April 27th 2017.
  • Consumer prices in the Euro Area are expected to increase by 1.9 percent year-on-year in April 2017, following a 1.5 percent rise in the 2017.
  • The unemployment rate in the Euro Area came in at 9.5 percent in March 2017, unchanged from February 2017.
  • The Euro zone economy advanced 0.5 percent on quarter in the three months to March of 2017, the same pace as in the previous quarter.
  • The Bank of Canada held its overnight rate steady at 0.5 percent on April 12th, 2017.
  • Consumer prices in Canada rose 1.6 percent year-on-year in March of 2017, easing from a 2 percent increase in February and below market expectations of 1.8 percent.
  • Canada's trade deficit narrowed to CAD 0.14 billion in March of 2017, following an upwardly revised CAD 1.08 billion gap in the previous month and better than market expectations of a CAD 0.9 billion deficit.
TECHNICAL ANALYSIS: EUR/CAD is in uptrend on weekly and monthly chart.


WEEKLY CHART: It is uptrend.
  • ALLIGATOR is awakening.
  • ADX rising.
  • DMI+ and DMI- are in buy mode.
  • AC is in positive zone. Columns are green.

MONTHLY CHART: It is in uptrend.
  • ALLIGATOR is sleeping.
  • ADX rising.
  • DMI+ and DMI- are in buy trend.
  • AC is in positive zone.

Recently Crude Oil prices got week, so CAD got weaker against other major currencies. I expect some recovery in Crude Oil prices so CAD will also bounce back. As in last meeting Central Bank of Canada said economy is growing at faster pace than anticipated.
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