CADEUR CAD/EUR
- 0.6786
- -0.0004-0.06%
CAD/EUR News
Canadian Dollar Gives Mixed Performance on Holiday-thinned Wednesday
The Canadian Dollar (CAD) is treading water on Wednesday, trading within a scant tenth of a percent against its largest peer — the US Dollar (USD). US markets are shuttered for the midweek Juneteenth holiday, thinning out market volumes as investors look ahead to key data prints on Friday.
European Central Bank committee member Vitor Constancio is optimistic: if inflation continues to cool, further interest rate cuts may be possible.
In the European Central Bank's latest statement, Commissioner Mario Centeno revealed a positive outlook on monetary policy.
Canadian Dollar Gets Pulled in Both Directions on Data-light Tuesday
The Canadian Dollar (CAD) is broadly mixed on Tuesday as CAD traders find their focus pulled elsewhere. A data-light week has sent the Canadian Dollar adrift, giving a mixed performance against the major currencies board.
Euro Trades Higher on the Day, Eyeing 1.0750 – Scotiabank
The Euro (EUR) is modestly higher on Tuesday's session, reflecting a mild narrowing in 10Y OAT/Bund spreads. The gap remains relatively significant (75bps), however, as tensions in the Eurozone persist, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Canadian Dollar Holding up Better Than Expected – Scotiabank
The Canadian Dollar (CAD) is a little softer on the day but continues to range trade between the recent US Dollar (USD) peak and trough, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
ECB Vice President Guindos: Quarterly Forecast Meeting Will Be Key for Major Interest Rate Decisions.
Vice President of the European Central Bank, Luis de Guindos, hinted that the quarterly forecast meeting will be a key decision for interest rates. This decision maker suggested that meetings to prepare forecasts in September and December may be crucial. "Forecasts are updated every three months, and the next one is in September," Guindos said. "This is one of the most important and interesting moments because forecassts are an important indicator of how interest rates will evolve." His speech is consistent with the views of other decision makers who do not want to cut interest rates further at the July meeting. "The medium-term direction is clear, but in the short term, it will depend on the data," he said.
German ZEW Economic Sentiment Index Edges Higher to 47.5 in June Vs. 50.0 Expected
The headline German ZEW Economic Sentiment Index edges a tad higher from 47.1 in May to 47.5 in June. The market consensus was for a 50.0 print.
Canadian Dollar in a Holding Pattern as Markets Await Meaningful Data
The Canadian Dollar (CAD) is trading tightly on Monday, with gains and losses mixed across the board and within a quarter of a percent against most of its major currency peers.
EUR Keeps Afloat Amid ECB Comments – Scotiabank
European Central Bank (ECB) policymakers indicated that the French situation is “contained”, allowing the Euro (EUR) to float above 1.07, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
BMO Sees Case For Another Canada Rates Cut Bolstered; Meantime, Awaits Housing Data
BMO Economics in its morning note said last week's rally, fuelled by "encouraging" CPI progress in the U.S., boosted rate cut expectations in Canada as well.
European Central Bank's chief economist is confident that inflation will fall back to 2% in the second half of next year.
Zhijun Finance learned from the app that Philip Lane, Chief Economist of the European Central Bank, said in an interview on Monday local time that the European Central Bank is confident that the inflation rate will fall back to the target value of 2% next year, although there will inevitably be some "noisy" inflation rate data in the process. "We have great confidence in the inflation target for the second half of next year," Lane said in a media interview on Monday at the London Stock Exchange. "So we must carefully interpret the economic data we receive, but try to distinguish between noise and key signals." In the interview with the Chief of the European Central Bank...
ECB's Lane: Seeing Significant Wage Increases in Some Countries
European Central Bank (ECB) Chief Economist Phillip Lane noted on Monday that they are seeing significant wage increases in some Eurozone countries, per Reuters.
European Central Bank Committee Member Vujcic: Interest rates may be lowered in September only if inflation improves.
Boris Vujcic, the Governor of the Croatian National Bank and member of the ECB, stated that if inflation is to improve, they would like to reduce interest rates in September.
Inflation Must Improve for ECB Cut in September, Vujcic Says
An interest-rate cut in September would require an improvement in the European Central Bank’s inflation outlook, according to Governing Council member Boris Vujcic.
ECB's Kazaks Says Must Not Allow Inflation to Remain Above 2% Into 2026
European Central Bank (ECB) Governing Council member Martins Kazaks said on Sunday that the bank must not allow inflation to remain above 2% into 2026, adding that he is concerned about delays beyond this.
Canadian Dollar Brushes off Low-tier Data Misses to Find Mild Recovery on Friday
The Canadian Dollar (CAD) found a thin recovery on Friday, gaining ground against most of its major currency peers and clawing back a scant tenth of a percent against the US Dollar (USD).
Statistics Canada Reports Manufacturing Sales up 1.1% at $70.8B in April
The increase followed a decline of 1.8 per cent in March.
ECB Executive Board member Kazaks: If inflation data is good, will support the market's expectation of ECB interest rate cuts.
On Friday, Martin Kazaks, a member of the European Central Bank's committee, stated that if inflation continues to slow down as expected, the ECB may continue to lower interest rates in line with market expectations.
Ifo predicts: The European Cup may drive Germany's Q2 economic growth by 0.1%.
According to data from the Ifo Institute, the month-long European football championship that opened in Germany on Friday is expected to boost the German economy by 0.1% in the second quarter. In a report, Ifo researcher Gerome Wolf said: 'However, this impact will only be temporary, which means that due to the return of tourists after the end of the 2024 European Cup, German service exports may decline again in the third quarter, overall unchanged.' Ifo said that large-scale sports events usually have 'relatively small effects, except for the tourism industry,' and compared it to the 2 held in Germany.
Canada's central bank cuts interest rates against the trend, experts call for continued adjustment of interest rate policies and vigilance against the weakness of the Canadian dollar.
The Bank of Canada stated, "Overall, recent data suggests that the economy is still running in an over-supplied situation." Only two interest rate cuts by the Bank of Canada have been priced in by the market from now until the end of this year. However, the major risk in the future is the weakness of the Canadian dollar.