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Euro eases versus Canadian dollar as ECB caution weighs on EUR/CAD

EUR/CAD was near 1.6100 during European trading, while CAD strength tracked higher crude oil prices.

Reported · Written up by our desk · Major Pairs

EUR/CAD paused its three day advance during European trading on Tuesday, trading around 1.6100 as the euro softened.

According to FXStreet, downward pressure on the cross came as traders looked ahead to key European Commission data releases and a planned address by European Central Bank President Christine Lagarde at the 2026 ECB/ESCB Legal Conference in Frankfurt.

FXStreet also pointed to ECB caution, noting Lagarde previously said a measured monetary policy remains appropriate and cited a lack of evidence that rising energy prices are driving wage growth.

On the Canadian side, the Canadian dollar gained traction on higher crude oil prices, while oil firmed amid uncertainty around US Iran negotiations and geopolitical risk, including remarks by Iranian officials questioning resolution steps before the US midterm elections in November.

Latest closeWTI crude $93.42 ▲1.1%

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