Euro up and Loonie down

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.

Will Euro rise or fall on CPI

So, the last day of the week and the last day  of the month has come. Interesting mixture! What do I expect for today. Now, you must know that I like going with the flow and wherever market takes me. If the news pushes Euro up, I go up. If it pushes Euro down, I will go down. Be prepared to trade in both directions by using limit orders. 9:00 GMT is approaching very fast. Two hours left.

I was inclined to think that Euro will fall by the end of the week, but looking at price action it is not likely. Both eur/usd and even eur/gbp look pretty strong now. So, let us follow the rule of following market first. And let us leave our opinions for the next time.

And do not forget that news from Canada will also have serious impact on the market. That is due at 12:30 GMT.