After four long years of negotiations, Prime Minister Harper and European Commission President José Manuel Barroso are preparing to sign an agreement in principle that should lead to a free trade agreement between the two economies. Naturally, certain domestic industries are concerned about the increased competition on Canadian markets. However, the agreement will facilitate access to a pool of some 500 million consumers for Canadian companies, and is therefore being heralded as good news for the country's economy. The EUR/CAD pairing has barely moved in recent hours.
This morning, Canadian Consumer Price Index data for September will be released. Markets anticipate only slight growth of 1.0% in prices for the previous month. They had been up by 1.1% (YoY) in August. Needless to say, we are still well shy of the levels that would be cause for concern for the BoC. A positive surprise could give some additional support to the Canadian dollar, which has been rising of late against the greenback. Wishing you a great weekend! Xavier Villemaire
Range of the day: 1.0260-1.0360 
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NBC Daily Forex : October 18, 2013
Published 10/20/2013, 03:52 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : October 18, 2013
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