The EUR/CAD exchange rate is trading lower on Monday, declining by 0.30% to near the 1.6250 handle. The move comes after Statistics Canada released a mixed set of October inflation figures, which created a volatile trading environment for the Canadian dollar. While some data points surprised to the upside, others moderated, leaving traders to digest the overall implications for the Bank of Canada's policy path.
The loonie found some underlying support from stabilizing crude oil markets, a key Canadian export. This provided a tailwind for the CAD against the euro, pushing the currency pair lower as the North American session progressed. The EUR/USD's own subdued performance also contributed to the pair's weakness, failing to offer any meaningful counterbalance to the Canadian dollar's firming tone as markets continue to assess global central bank divergence.
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Data Source: GrowingPool Analysis Team Updated: 2025-11-17 16:56
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.