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fxAug 13, 2026, 8:43 AM

Euro Rebounds Against Canadian Dollar as ECB Hawkishness, Cheaper Oil Help

EUR/CAD snapped a six-day losing streak Thursday, trading near 1.6080 as euro zone data supported a hawkish ECB and lower oil prices weighed on the Canadian dollar.

EURCAD

EUR/CAD halted its six-day decline during European trading Thursday, rising to around 1.6080.

The euro found support as the euro area macroeconomic picture continued to back the European Central Bank’s hawkish policy stance. At the same time, lower oil prices reduced support for the Canadian dollar.

The cross therefore recovered after six consecutive down days, with the pair trading near the 1.6080 area.

Source: FXStreet Forex News