Euro loses against Canadian Dollar as ECB’s Lane warns economic growth concerns
- The Euro remains under pressure after German and Eurozone PMI data met expectations without providing bullish impetus.
- ECB Chief Economist Philip Lane warned that high long-term interest rates continue to restrict regional economic growth.
- Canadian Dollar weakness due to declining WTI crude oil prices is helping to limit broader EUR/CAD losses.
EUR/CAD has pared its recent gains from the previous trading day, hovering around 1.5970 during European hours on Monday. The currency cross depreciates as the Euro (EUR) remains under pressure following the release of Final HCOB Purchasing Managers’ Index (PMI) data from Germany and the Eurozone.
In Germany, the Final Composite PMI held steady at 53.8 in September, matching expectations, while the Services PMI matched forecasts at 53.0. Across the broader Eurozone, Composite and Services PMIs also aligned with estimates at 53.1 and 53.0, respectively. Meanwhile, market participants are looking ahead to the Eurozone Sentix Investor Confidence report due later in the session.
Adding to the Euro's headwinds, European Central Bank (ECB) Chief Economist Philip Lane highlighted growing risks to the regional outlook, warning that higher long-term interest rates are continuing to constrain economic growth. On the inflation front, Lane noted that medium-term inflation expectations remain de-anchored, pointing to ongoing uncertainty surrounding price stability across the bloc.
However, further downside for EUR/CAD may be limited as the commodity-linked Canadian Dollar (CAD) faces pressure from declining crude oil prices. West Texas Intermediate (WTI) crude has continued to slide, trading near $88.90 per barrel. Oil markets retreated sharply after G7 nations agreed to release 100 million barrels of crude and diesel from emergency reserves while committing to avoid energy export restrictions following pressure from US President Donald Trump.
Despite ongoing geopolitical conflict, regional crude supplies have shown signs of recovery. Data from Kpler revealed that regional exports briefly surged above pre-war levels in late September, peaking at up to 22.5 million barrels per day compared to the pre-war baseline average of 18 million barrels per day recorded between March 2025 and February.
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.53% | 0.12% | -0.11% | 0.06% | -0.16% | 0.44% | 0.07% | |
| EUR | -0.53% | -0.35% | -0.58% | -0.44% | -0.50% | -0.16% | -0.43% | |
| GBP | -0.12% | 0.35% | -0.23% | -0.07% | -0.14% | 0.19% | -0.07% | |
| JPY | 0.11% | 0.58% | 0.23% | 0.16% | 0.03% | 0.44% | 0.17% | |
| CAD | -0.06% | 0.44% | 0.07% | -0.16% | -0.12% | 0.25% | -0.02% | |
| AUD | 0.16% | 0.50% | 0.14% | -0.03% | 0.12% | 0.34% | 0.08% | |
| NZD | -0.44% | 0.16% | -0.19% | -0.44% | -0.25% | -0.34% | -0.27% | |
| CHF | -0.07% | 0.43% | 0.07% | -0.17% | 0.02% | -0.08% | 0.27% |
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.
