Following a better than expected German Ifo Business Climate figure, the euro was able to extend its bullish trend and hit a 2-month high against the US dollar this morning. Currently the EUR/USD pair is trading at the 1.3525 level, up close to 60 pips from this morning. The euro also saw modest gains against the yen, but remains virtually unchanged against the Swiss franc and UK pound.
Turning to the rest of the day, traders will want to pay attention to the Canadian Core Retail Sales figure, set to be release at 13:30 GMT. The loonie has been moderatly bullish against the US dollar in the last few days. With analysts predicting a decrease in the Core Retail figure, the CAD may reverse its current upward trend against the greenback to close out the week. With no other signficant news events scheduled before markets close for the week, the euro is likely to extend its bullish run against the dollar, and may even hit the 1.3600 resistance level.