Euro Steady Against CAD Despite Hawkish Comments from BoC Governor

The Euro held steady against the Canadian Dollar after data from Germany showed that Factory Orders rose 2.5% in July, beating expectations of a 0.3% increase.

Commerzbank noted that BoC Governor Macklem maintained a hawkish stance, warning that high inflation faces elevated risks from ongoing geopolitical conflicts and energy price spikes.

The EUR/CAD cross traded at 1.6040, keeping a bearish near-term tone as the price held below both the nine- and 50-period Exponential Moving Averages (EMAs).