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.

Data from Europe and Canada tomorrow

Tomorrow is pretty important day. We may see fundamental things rock the Forex market at large. The first one is Euro zone consumer price index (cpi). It comes at 9:00 GMT. Be aware of that as Euro pairs will probably have significant impact from the event. The second one is Canadian gross domestic product (GDP). It comes out at 12:30 GMT. As you may understand all Canadian dollar pairs will be moved by the news. So, if you enjoy trading fundamental events be ready with your charts and specific currencies around the times I mentioned above. Good luck!