The EUR/CAD pair trades close to more than a three-month low around 1.4820 in European trading hours on Tuesday.
EUR/CAD weakens as the EURO faces selling pressure across the board. Trump’s victory and German political uncertainty have weighed on the Euro. The BoC is expected to cut interest rates by 50 bps next month. The cross extends its losing streak for the third trading day on Tuesday as the Euro remains on the backfoot across the board.
EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD . What is the ECB and how does it impact the Euro? The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth.
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