Euro Slides Against Canadian Dollar Amid Geopolitical Tensions

The EUR/CAD currency cross is losing ground as the commodity-linked Canadian Dollar (CAD) draws strength from higher oil prices, analysts say.

This comes amidst geopolitical tensions at the United Nations General Assembly in New York, where US President Donald Trump will address the assembly later in the day and hold talks with Iranian President Masoud Pezeshkian, Chinese President Xi Jinping, and leaders from other Gulf nations.

The Euro (EUR) is coming under pressure against major currencies due to intensifying political instability in Germany, particularly after Sunday's state elections where the far-right Alternative for Germany (AfD) claimed first place, leaving Chancellor Friedrich Merz's conservative party with its worst regional defeat in post-war history.