EUR/CAD Holds Gains Above 1.6180 After Mixed German Data

The euro held firm against the Canadian dollar on Monday, with EUR/CAD trading near 1.6180 during European hours. The pair opened with a bullish gap and remained in positive territory, even as it edged back slightly from intraday highs.

Mixed economic data out of Germany did little to dent the single currency’s resilience. The lack of a negative reaction suggests market participants are still pricing in a relatively hawkish European Central Bank stance compared to the Bank of Canada.

EUR/CAD’s ability to hold above the 1.6180 handle highlights underlying bullish momentum for the euro in the near term.