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Forex

Euro Gains Ahead of HICP Data Amid French Fiscal Woes

Guavy AI Editorial Team
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EUR CAD
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The Euro has gained against the Canadian Dollar ahead of upcoming economic data releases in the Eurozone. The EUR/CAD cross is currently trading around 1.6010, having posted modest losses in the previous day.

Traders are now focusing on the preliminary Eurozone Harmonized Index of Consumer Prices (HICP) data for September, due to be released later in the day.

The broader market sentiment is also supporting the shared currency, as global bond yields retreat. However, this gain in the Euro remains limited by worsening fiscal troubles in France, where public debt has ballooned to 119% of GDP and government bond yields have reached a 4.96% high since August 2002.

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