July 1, 2021 FXResearch Globally

Euro - Canadian Dollar Slide

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July 1

Euro Canadian dollar forex graph

Euro was on the lower side versus Canadian dollar in last 3 month as can be viewed in the graph. Moreover, EUR/CAD fell below 1.50 lately. The pair has sustained that level and stayed well below it. The chart is for period from start of April to July 1 of 2021. Nonetheless, the EUR/CAD was at the range after such decrease. In fact, the pair has been in narrow trading range. Both currencies have been increasing versus US dollar until recent times, but with US dollar rebound some changes are occurring. For example, while euro declined versus US dollar following good periods before, the Canadian dollar is in more stable position. Moreover, the Canadian dollar seems to be on upper footing virus large currencies due to commodities prices and other news. Recent changes in economic data might give a slow performance to the Canadian dollar if the economic statistics will change. Companies as Blackberry who have lots of sales globally are impacted by the rate of CAD too.

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Previous Update - June 22

Brazilian real reached new highs and was at 1-year high. USD/BRL crossed below 5 reals in addition to that. Moreover, considering just recently it was at a different range, the rebound is looking impressive. Few weeks ago the rate was at 6-month high. At one point USD/BRL was attaining about 6 level. See more at our Twitter and in a graph below. Food production is expected to be affected too including in the trade area. One of the largest companies JBS S.A. with more than $10s billions in sales worldwide is known to have sales worldwide. The goods will become more expensive if the current rate remains when sold outside of Brazil.