The EUR/CAD currency pair has continued its upward momentum, achieving a new high near the 1.6200 level during Thursday's Asian trading session. This marks the fourth consecutive session of gains, as traders react to ongoing concerns about oil demand that are weighing on the Canadian Dollar.
The exchange rate reflects broader market anxieties, particularly regarding the economic outlook and its impact on commodity prices. With the Canadian economy closely tied to oil, any decline in demand can lead to significant pressure on the CAD, influencing investor sentiment and positioning in the forex market. As EUR strength persists, market participants will be closely monitoring the developments that could further impact this currency pair.
About FX Killer Trader Incubation Program
Want to become a professional trader? FX Killer offers a completely free professional trader training program. We provide systematic courses, practical training, and professional mentorship to help you grow from beginner to full-time trader.
👉 Join Free Training Program | Trading Psychology Assessment
Data Source: FX Killer Analysis Team Updated: 2026-01-08 05:50
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.