Credit Agricole CIB FX Strategy Research notes that the EUR was in demand for most of the week, mainly in reaction to ECB President Draghi making a bigger case of removing stimulus in an environment of improving growth conditions.

TD Research uses its High-Frequency Fair Value Model (HFFV) to examine some of the drivers, and dissect the inputs of the model to get a better sense of the variables driving the daily price action in USD/CAD.