Euro Holds Ground vs CAD as German Data Surprises

The Euro maintained its position against the Canadian Dollar after three days of gains, trading around 1.6170 during European hours on Thursday.

This stability comes as the Euro moves little following a surprisingly upbeat economic data out of Germany.

The September GfK Consumer Confidence Survey improved significantly to -26.6, climbing from -29.4 in August and beating market forecasts that had anticipated a slight dip to -29.6.

Meanwhile, the Canadian Dollar (CAD) is struggling due to lower oil prices, with West Texas Intermediate (WTI) oil trading around $81.10 per barrel at the time of writing.