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fxJul 16, 2026, 9:17 AM

EUR/CAD Holds Gains After Eurozone Trade Balance Data

The euro strengthened against the Canadian dollar for a second straight session, trading near 1.6100 during European hours following the release of Eurozone trade balance figures.

EURCAD

EUR/CAD extended its upward move for the second consecutive day, hovering around the 1.6100 level during the European trading session. The advance followed the publication of Eurozone trade balance data, which showed a surplus that exceeded market expectations.

Traders continue to monitor the pair as the euro draws support from improving trade flows within the currency bloc. Meanwhile, the Canadian dollar remains under pressure amid mixed sentiment towards commodity-linked currencies.

No further triggers have been identified beyond the data release, leaving EUR/CAD to consolidate recent gains. The pair's next direction may hinge on upcoming economic releases from both the Eurozone and Canada.

Source: FXStreet Forex News