• EUR/CAD gauges a temporary cushion near 1.4800, however, more downside looks likely.
• The ECB is expected to reach a neutral rate by the first half of 2025.
• Investors expect the BoC to cut interest rates by 50 bps in December.

The EUR/CAD pair discovers temporary support near the round-level support of 1.4800 in European trading hours on Wednesday. The asset finds an interim cushion. However, the downside bias remains intact as US President-elected Donald Trump’s tariff policies are expected to result in a trade war between the Eurozone and the United States administration.

In the election campaign, Trump