Commodities
EUR/CAD Rises as Traders Await Eurozone Economic Data
The EUR/CAD cross rose to around 1.6090 during European hours on Wednesday as traders watched for upcoming economic data from the Eurozone.
Rabobank's strategists noted that investors have priced in a sustained tightening cycle from the ECB, with expectations of more than four additional rate hikes beyond the two already delivered.
The Canadian Dollar struggled to maintain momentum after crude oil prices pulled back following a build of 7.14 million barrels in US inventory data.