Key Moments
- EUR/CAD trades near 1.5840 during European hours on Wednesday after slight losses in the prior session.
- Final German HICP figures confirm a 0.1% monthly decline and 2.8% annual rise in October, matching preliminary estimates.
- Canadian Dollar underperforms as WTI crude extends a four-day slide, hovering around $85.20 per barrel.
Euro Holds Modest Lead Against Canadian Dollar
EUR/CAD is trading marginally higher around 1.5840 in European dealings on Wednesday, recovering after small declines in the previous session. The cross is stabilizing as the market digests final German inflation data and reassesses central bank expectations, while the Canadian Dollar remains pressured by weaker oil prices.
German Inflation Data Confirms Initial Readings
The final reading of Germany’s Harmonized Index of Consumer Prices (HICP) confirmed the preliminary October figures. The data showed a 0.1% month-on-month contraction and a 2.8% year-on-year increase. These October outcomes follow respective gains of 0.6% and 3.3% in September, fully validating the earlier estimates.
European Bond Yields Climb as ECB Expectations Shift
Analysts at Deutsche Bank highlight that “earlier in Europe, there was a major selloff for sovereign bonds too, although not quite as big as in the US,” as investors moved to price a more hawkish ECB trajectory. They note that yields on Bunds, OATs and BTPs rose sharply, with markets pushing the probability of a December ECB hike close to fully priced and adding further tightening out to the June 2027 meeting.
Canadian Dollar Pressured by Sliding Oil Prices
EUR/CAD continues to find support as the commodity-sensitive Canadian Dollar struggles amid ongoing weakness in crude. West Texas Intermediate (WTI) crude futures are on track for a fourth consecutive daily decline, trading around $85.20 per barrel at the time of writing.
Oil prices are softening amid signals of easing tensions between the US and Iran. US President Donald Trump suggested that additional military strikes against Iran may no longer be necessary, encouraging hopes for a diplomatic resolution. At the same time, Congressional Democrats are considering leveraging the upcoming government funding deadline to press the Trump administration to end the conflict.
Intraday Performance of the Euro Against Major Currencies
The following table presents the percentage change of the Euro (EUR) against key major currencies today. According to the data, the Euro has shown its strongest performance against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | — | 0.14% | 0.17% | 0.03% | 0.17% | -0.09% | 0.09% | 0.33% |
| EUR | -0.14% | — | 0.03% | -0.11% | 0.03% | -0.24% | -0.03% | 0.18% |
| GBP | -0.17% | -0.03% | — | -0.15% | -0.00% | -0.27% | -0.06% | 0.15% |
| JPY | -0.03% | 0.11% | 0.15% | — | 0.13% | -0.13% | 0.07% | 0.28% |
| CAD | -0.17% | -0.03% | 0.00% | -0.13% | — | -0.26% | -0.06% | 0.15% |
| AUD | 0.09% | 0.24% | 0.27% | 0.13% | 0.26% | — | 0.22% | 0.41% |
| NZD | -0.09% | 0.03% | 0.06% | -0.07% | 0.06% | -0.22% | — | 0.22% |
| CHF | -0.33% | -0.18% | -0.15% | -0.28% | -0.15% | -0.41% | -0.22% | — |
The heat map reflects percentage moves of major currencies relative to one another. The base currency is taken from the left-hand column, and the quote currency from the top row. For instance, selecting the Euro in the left column and the US Dollar in the top row shows the percentage change for EUR (base)/USD (quote) in the intersecting cell.
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