EURCAD

Euro / Canadian dollar

European Central Bank President Christine Lagarde stated that inflation expectations should not change. People should be confident that price growth will return to the target level.

Bank of Canada economists suppose that the interest-rate hiking cycle can be completed in the forthcoming months. Even if the Federal Reserve continues to increase borrowing costs, the situation won’t change.

Christine Lagarde, president of the European Central Bank (ECB), sees that some European states' fiscal policies are likely to trigger excess demand. She stressed that fiscal and monetary policies need to work in sync so that economic growth remains both balanced and sustainable.

According to a recent survey, a downturn in manufacturing activity was less pronounced in the euro countries in November. And while European factories are still to face difficulties as winter comes, now there exists a possibility it wouldn't be extremely severe.

The U.S. dollar weakened against some other currencies. On Thursday the Canadian dollar lost positions against its U.S. counterpart.