Euro struggles against Canadian Dollar as oil prices rebound

EUR/CAD falls as higher crude oil prices strengthen the commodity-linked Canadian Dollar.
WTI rises due to supply concerns following Monday's US self-defense strikes in southern Iran.
The Euro may rise due to hawkish sentiment surrounding the European Central Bank's monetary policy outlook.

Akhtar Faruqui FXStreet

EUR/CAD depreciates after four days of losses, trading around 1.6060 during the European hours on Tuesday. The currency cross loses ground as the commodity-linked Canadian Dollar (CAD) remains firm amid higher crude oil prices. It is important to note that Canada is one of the world's largest producers and exporters of crude oil, with its energy sector making up a massive portion of its economy.

West Texas Intermediate (WTI) oil price gains ground after four days of losses, trading around $92.50 per barrel at the time of writing. Crude oil prices advance on renewed supply concerns after the United States (US) forces conducted self-defense strikes in southern Iran on Monday.

A US Central Command spokesperson said that the strikes targeted missile launch sites and Iranian vessels attempting to deploy mines. While the US military emphasized its commitment to protecting its forces and maintained that it is still exercising restraint during the ceasefire, US President Donald Trump stated that negotiations toward a deal to end the conflict and reopen the Strait of Hormuz were proceeding nicely.

The EUR/CAD cross struggles as the risk-sensitive Euro (EUR) faces challenges amid rising safe-haven demand. However, the downside of the Euro could be restrained amid hawkish sentiment surrounding the European Central Bank’s (ECB) policy outlook. Traders will take more cues from the preliminary reading of Germany’s inflation data, which is due later on Friday.

ECB board member Isabel Schnabel said on Tuesday that the central bank should raise interest rates in June, even if ongoing peace talks with Iran yield a deal, as the conflict has been far longer than projected and high energy prices are spilling into the broader economy.

Euro Price Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the US Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.08%	0.21%	0.19%	0.00%	0.15%	0.49%	0.23%
EUR	-0.08%		0.16%	0.11%	-0.06%	0.10%	0.44%	0.15%
GBP	-0.21%	-0.16%		-0.04%	-0.21%	-0.05%	0.27%	0.00%
JPY	-0.19%	-0.11%	0.04%		-0.18%	-0.01%	0.29%	0.06%
CAD	-0.01%	0.06%	0.21%	0.18%		0.17%	0.50%	0.24%
AUD	-0.15%	-0.10%	0.05%	0.01%	-0.17%		0.32%	0.06%
NZD	-0.49%	-0.44%	-0.27%	-0.29%	-0.50%	-0.32%		-0.27%
CHF	-0.23%	-0.15%	-0.00%	-0.06%	-0.24%	-0.06%	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.

AUD/USD bulls regain control above 0.6950 amid USD retreat

AUD/USD regains traction and extends the previous day's bounce from the weekly low, aiming for 0.7000 in Asia on Friday. The overnight pullback in US bond yields keeps the US Dollar below an 18-month high, which in turn offers some support to the pair. Meanwhile, hawkish RBA expectations also keep the major underpinned.

USD/JPY holds gains near 158.00 after Japan's weak Household Spending data

USD/JPY clings to gains around 158.00 after data showed on Friday that Japan's Household Spending fell for the ninth straight month, undermining the Japanese Yen. Meanwhile, the US Dollar remains depressed as the overnight fall in US bond yields counters a hawkish Fed and geopolitical uncertainties, could cap any downside in the pair.

Gold remains range-bound below $4,200

Gold has given up some ground after an initial bullish attempt to reach weekly highs, returning to below the $4,200 mark per troy ounce on Friday. The US Dollar’s strong upside momentum, combined with rising US Treasury yields across the curve, seems to keep further gains in the yellow metal under scrutiny.

Ethereum activates Glamsterdam on Sepolia testnet: Why the price is falling anyway

Ethereum (ETH) has reached a key milestone in its next major network upgrade. The planned changes aim to improve Ethereum’s Layer 1 capacity and efficiency as network activity grows. The development comes as ETH retreats toward $2,500, highlighting the contrast between the network’s long-term technical progress and its short-term market weakness.

The Euro is not the sick man of Europe. France's bond market is

EUR/USD remains under pressure, near the 17-month low of 1.1161 reached on Monday. The pair has lost more than 7% since its yearly peak, as concerns over France's public finances increasingly weigh on the single currency. But behind the weakness of the Euro (EUR), the problem does not necessarily lie with the European economy as a whole.

The UK 30-year gilt just hit a 1998 high. Is that good or bad for the British Pound?

The yield on the UK's 30-year government bond, or gilt, went through 6% on October 1 for the first time since early 1998, and on Monday the Pound was at its strongest against the Euro since June 2025. The gilt market's 28-year high is mostly someone else's. Since early May, the 30-year gilt yield has risen about 0.15 of a percentage point and the US 30-year about 0.7.