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Forex

Euro Fades vs Loonie on Oil Rally and Cautious ECB

Guavy AI Editorial Team
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EUR CAD
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The EUR/CAD pair pulled back to around 1.6100 on Tuesday, ending a three-session advance during European trading.

This decline comes as the Euro softens ahead of upcoming economic releases from the European Commission and an address by ECB President Christine Lagarde in Frankfurt.

Lagarde is set to speak at the 2026 ECB/ESCB Legal Conference, where she will discuss 'Independence, not isolation: central banks and their connections with other authorities.'

The Canadian Dollar is firming, supported by a constructive tone in crude oil markets, which is adding pressure on the EUR/CAD pair.

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