Update: 12:30pm CST — the euro’s gains have subsided as we head into the early afternoon.

The euro climbed to two-week highs against the US dollar this morning after European Central Bank President Mario Draghi said that there was “no additional stimulus needed for the time being” at today’s ECB meeting. This comment, along with today’s news that the ECB would only lower EU growth forecasts slightly and hold interest and deposit rates steady, is making investors more confident in the Eurozone’s post-Brexit resilient and helping to support the euro.

The pound is down despite no new data set to come out today. Sterling has been trading at its highest levels against the US dollar since the Brexit vote’s aftermath as positive signs of a UK rebound have surfaced with recent data. That said, tomorrow morning’s consumer inflation forecasts and July trade balance data could chip at some of the pound’s recent gains if they miss analyst expectations.

The Canadian dollar is trading lower despite oil prices moving above $47 per barrel and stronger-than-expected new housing price growth during July. The Australian dollar is down as investors wait for China’s August consumer and producer inflation data set to come out tonight. While analysts expect a small uptick in consumer prices from Australia’s largest trading partner, flat inflation in China could signal sluggish economic growth and hurt the Aussie dollar.

EURUSD: The euro is up thanks to Draghi’s positive comments from this morning’s ECB meeting.

GBPUSD: The pound is trading lower with no new data out.

AUDUSD: The Aussie dollar is falling as investors await tonight’s inflation data out of China.

USDCAD: The Canadian dollar is down despite higher oil prices and better-than-expected new housing price growth in July.