Euro rises for the second week in a row despite the ECB action

Euro on the way to record the second consecutive weekly rise against the dollar, and in spite of the extraordinary stimulus measures taken by the European Central Bank during a meeting yesterday in order to support growth and inflation rates .
Pair is trading the euro against the dollar is currently at the level of 1.1149 after recording a low of 1.1081 and a high of 1.1210 while today's session was opened at the level of 1.1180 comes after rising yesterday to its highest level in three weeks at the level of 1.1219 . Rally seen this week, the euro came after European Central Bank President Mario Draghi's statement during which he pointed out that the bank does not intend to further reduction in interest rates, which helped lift the euro to ignore the strong stimulus decisions taken by the Bank. ECB's decisions to cut interest all kinds of prices as well as to increase the quantitative easing program to up to 80 billion euros from 60 billion euros that would have worked to reduce the euro levels yesterday but the former Draghi's statement referred to has saved the euro this negative scenario.

Today the euro traded Lagging in light of the return of the market to focus on the big bank's decisions motivational taken yesterday which to do to correct after the euro rising to the highest level in three weeks against the dollar , but this did not prevent the euro continues to rise on the weekly level. The Canadian dollar is on track for the eighth consecutive weekly rise The Canadian dollar saw higher against its US counterpart during the trading day , and in spite of the weak labor market data released by the Canadian economy today , we find that while the Canadian dollar on the way to recording the eighth weekly increase in a row. Trading the US dollar versus the Canadian dollar is currently at the level of 1.3300 after the pair scored the highest level at 1.3343 and the lowest at 1.3232 and the session was today opened at 1.3336 . This comes after the pair decline to its lowest level in four months during the week's trading at 1.3230 .

Employment sector in Canada saw a deterioration during the month of February , and with the rise in unemployment and low rates of change in employment , this comes in the light of the continued suffering in the Canadian economy as a result influenced by the big decline in crude oil prices and the impact on the economy, which mainly depends on resources export of crude oil . The current rise in the Canadian dollar levels despite weak labor market data comes amid weaker US dollar levels against major currencies to its lowest level in three weeks yesterday , which increased Canadian currency support during the day.

In addition to the lost crude oil prices rose to a new high since 13 weeks which helped the Canadian dollar to rise under Trdah the relationship it has with crude oil prices to near record eighth weekly increase in a row.