• EUR/CAD edged lower on Monday as investors assessed the revival of trade talks between Washington and Ottawa.
• Canada scrapped the tax late Sunday, just hours before it was to take effect, in an effort to revive stalled negotiations.
• Canadian PM Mark Carney and U.S. President Trump will resume trade talks aiming to reach a deal by July 21, extending the original July 9 deadline for reciprocal tariffs..
• German inflation fell to 2.0% YoY, below expectations for a rise to 2.2% in EU-harmonised terms.Germany's core inflation rate, which excludes volatile food and energy prices, eased to 2.7% in June from 2.8% the previous month.
• The German data precedes the euro zone inflation report due Tuesday, with June inflation expected to rise to 2.0%, matching the ECB’s target, up from 1.9% in May.
• Immediate resistance is located at 1.6091(38.2%fib), any close above will push the pair towards 1.6122(Higher BB).
• Support is seen at 1.5988(38.2%fib) and break below could take the pair towards 1.5911(50%fib).
Recommendation: Good to buy around 1.6000 , with stop loss of 1.5900 and target price of 1.6100
