Neutral
EUR/CAD rises to 1.6090 as US crude inventories surge, halting oil rally.
Over the past 24 hours, EUR/CAD has appreciated, trading around 1.6090, as the Canadian Dollar weakened due to a significant increase in US crude oil inventories. This development halted the recent rally in oil prices, which typically supports the commodity-linked CAD. Traders are also awaiting the release of Eurozone Industrial Production data for July, scheduled for later today.
Key points
- EUR/CAD rises to 1.6090 as US crude inventories surge, halting oil rally.
- Traders await Eurozone Industrial Production data for July, scheduled for release today.
Sources
AI-generated from public news sources. Not financial advice.
