The Euro to Canadian Dollar (EUR/CAD) exchange rate dived by around -0.80% on Friday afternoon.
After Canadian labour market data produced positive results, the ‘Loonie’ (CAD) strengthened versus the majority of its most traded currency competitors. Further support is as a result of oil prices rebounding to above $50 a barrel.
The Euro, conversely, declined versus nearly all of its major peers. This can be attributed to mounting anxieties regarding Greece and the nation’s future in the Eurozone. A tough stance by the European Central Bank (ECB) with regards to repayment of Greek debt could provoke a Grexit.
Read more at Click here / www.trade4x.net
After Canadian labour market data produced positive results, the ‘Loonie’ (CAD) strengthened versus the majority of its most traded currency competitors. Further support is as a result of oil prices rebounding to above $50 a barrel.
The Euro, conversely, declined versus nearly all of its major peers. This can be attributed to mounting anxieties regarding Greece and the nation’s future in the Eurozone. A tough stance by the European Central Bank (ECB) with regards to repayment of Greek debt could provoke a Grexit.
Read more at Click here / www.trade4x.net
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