Euro had mixed reactions on a little bit better than expected CPI data from Europe. What will happen to European currency next week is hard to tell. However, looking at eur/usd price action you might guess that 1.3150 level is probably in the cards. At least, that's what I am getting ready for Monday and Tuesday. It is not quite clear whether eur/gbp will follow the price action. Time will show. I will concentrate on eur/usd for now.
Now, loonie went down against most currencies. The data was better than expected. Unfortunately, or should I say fortunately Canadian dollar went down. usd/cad and eur/cad are trying to make new highs and found it difficult to do for some time now. Next week could be the breaking point. I will post key events for the coming week tomorrow. One thing is clear, it will be key for commodity currencies. See you tomorrow.
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