EUR/CAD Ticks Up on Stronger German Sentiment, but Oil-Linked CAD Remains Firm

The EUR/CAD currency pair saw an uptick in value after Germany's IFO Business Climate Index rose to 89.9 in September, exceeding expectations.

This increase in the index was driven by a stronger Euro, which firmed following the release of the figures.

However, the Canadian Dollar remains resilient due to its commodity-linked nature and the ongoing Middle East tensions tied to US-Iran diplomacy.

Rabobank noted uncertainty around US energy policy after US Energy Secretary Wright stated that a US diesel export ban would not work, while reports suggest the White House is preparing a 90-day ban plan.