Going into the European open, German consumer sentiment figures will draw interest ahead of key stats from the U.S.
New Home Sales rose 12% year over year
The Canadian dollar fell against its broadly stronger U.S. counterpart on Wednesday as the Bank of Canada surprised some investors by leaving interest rates on hold, offsetting support for the currency from higher oil prices. The Bank of Canada will soon start hiking interest rates from record lows to combat inflation, Governor Tiff Macklem said, after the central bank left its policy rate at a record low of 0.25%. "The disappointment from the Bank of Canada will quickly fade while the tailwind from oil is significantly growing," said Adam Button, chief currency analyst at ForexLive.