The euro climbs against the Canadian dollar after stronger German trade data and weaker crude oil prices support the cross.
The EUR/CAD pair rebounded to 1.6210 in European trading on Thursday, recovering from two consecutive days of losses. The move follows stronger-than-expected German trade data, which bolstered the euro’s appeal.
Earlier, Germany reported a trade surplus that exceeded market expectations, while oil prices remained under pressure, weighing on the commodity-linked Canadian dollar. The cross had dipped in prior sessions but found support from the improved trade figures.
No immediate market reaction was specified, though the pair’s movement reflects shifting sentiment amid macroeconomic developments.