The EUR/CAD currency pair has softened, trading around 1.6275 during the early European session on Monday, slipping below the key level of 1.6300. This decline comes as market participants await the release of Canadian CPI inflation data, which could significantly influence the exchange rate.
Despite the downward movement, the potential for further decline may be limited, primarily due to the European Central Bank's cautious stance. Traders are closely monitoring these macroeconomic indicators, as shifts in inflation data could impact the future policies of both the ECB and the Bank of Canada, thereby affecting the broader trading landscape for the EUR and CAD.
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Data Source: FX Killer Analysis Team Updated: 2025-11-17 06:29
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.