Eur cad

The Bank of Canada is due to increase interest rates to 1.75% at the conclusion of its meeting today. This will be an easy decision thanks to an improving economy and the fact that Canada finally secured a trade deal (USMCA) with its two southern neighbours.

The single currency has performed particularly well against the Canadian dollar, which has been undermined by continued uncertainty over NAFTA negotiations and recent volatility in oil prices.

Today is fairly light on the data front. The only notable exception will be Canadian inflation and retail sales figures, which will be released later at 13:30 BST (08:30 EDT).