EURCAD Analysis
EURCAD at the major resistance area and falling from the higher high area of the Ascending channel
EURCAD Update
EURCAD is consolidating at the higher high area, which leads to the SL price. However, EURCAD still has a chance to fall from the higher high area of the Ascending channel.
Reason: Due to the release of more economic news mentioned below, the market is not making technical movements at this time.
Why EURO is Stronger
ECB Policy Stability – The European Central Bank has paused rate cuts, keeping policy steady at 2%, boosting confidence in the euro.
Fed Rate Cuts – The U.S. Federal Reserve is easing policy, weakening the dollar and making the euro stronger by comparison.
Broad Gains vs. Other Currencies – The euro is not just rising against the dollar, but also against the yuan, yen, and pound, showing broad-based strength.
Investor Confidence in Eurozone – Stable inflation near 2% and solid Eurozone fundamentals attract investors, supporting euro demand.
Why CAD is Weaker
Weak Employment Data – Soft labor market results have undermined confidence in Canada’s economic strength.
BoC Rate Cuts – The Bank of Canada resumed cutting interest rates, reducing the currency’s yield appeal.
Divergence with Other Central Banks – While some central banks hold steady, Canada’s easing stance pressures the CAD relative to peers.
Lower Investor Demand – Reduced growth outlook and falling rates make CAD-denominated assets less attractive to global investors.
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