EUR/CAD rises to near 1.6200 as Canadian Dollar struggles on Oil demand concerns
- EUR/CAD strengthens as the commodity-linked Canadian Dollar weakens amid growing concerns over Canadian Oil demand.
- Canada’s PM Mark Carney will visit China January 13–17 to diversify Canada’s exports amid uncertain US trade policy.
- Germany’s Factory Orders and Eurozone Business Climate and unemployment data will be watched later on Thursday.
EUR/CAD extends its gains for the fourth successive session, trading around 1.6200 during the Asian hours on Thursday. The currency cross advances as the commodity-linked Canadian Dollar (CAD) comes under pressure after US President Donald Trump signaled efforts to restore Venezuelan crude imports, stoking concerns over increased supply and tougher competition for Canadian oil demand.
However, Prime Minister Mark Carney said Canadian crude remains low risk and competitive even if Venezuelan exports rise. His office said Carney will visit China from January 13–17 as he seeks to diversify Canada’s exports away from the United States amid uncertainty over US trade policy.
On the data front, Canada’s seasonally adjusted Ivey Purchasing Managers’ Index (PMI) climbed to 51.9 in December 2025 from 48.4 in November, surpassing expectations of 49.5 and signaling a return to expansion after one month of contraction. Canada's Trade Balance data for October is due on Thursday, with focus on Friday’s labor market data.
The medium-impact Factory Orders from Germany, Business Climate, and Unemployment Rate data from the Eurozone will likely be observed later in the day. Eurostat published the preliminary Eurozone Harmonized Index of Consumer Prices (HICP) data for December on Wednesday, which climbed at an annualized pace of 2% in December, as expected, slower than 2.1% in November.
The monthly HICP inflation grew to 0.2% after deflating 0.3% in the previous month. The Core HICP, which excludes volatile components such as food, energy, alcohol, and tobacco, grew at a slower pace of 2.3% year-on-year (YoY) against estimates and the prior reading of 2.4%. Month-on-month, the core HICP rose by 0.3%.
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.00% | 0.06% | -0.05% | 0.11% | 0.27% | 0.19% | -0.02% | |
| EUR | -0.01% | 0.05% | -0.05% | 0.09% | 0.26% | 0.18% | -0.03% | |
| GBP | -0.06% | -0.05% | -0.11% | 0.04% | 0.21% | 0.13% | -0.08% | |
| JPY | 0.05% | 0.05% | 0.11% | 0.13% | 0.31% | 0.20% | 0.01% | |
| CAD | -0.11% | -0.09% | -0.04% | -0.13% | 0.17% | 0.08% | -0.12% | |
| AUD | -0.27% | -0.26% | -0.21% | -0.31% | -0.17% | -0.08% | -0.29% | |
| NZD | -0.19% | -0.18% | -0.13% | -0.20% | -0.08% | 0.08% | -0.21% | |
| CHF | 0.02% | 0.03% | 0.08% | -0.01% | 0.12% | 0.29% | 0.21% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Author
Akhtar Faruqui
FXStreet
Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.
