The Euro gains against the Canadian Dollar for a second day as traders await key PMI data from Germany and the Eurozone.
EUR/CAD climbed to 1.6230 during European trading hours on Friday, marking its second consecutive day of gains. The pair’s advance reflects broader Euro strength ahead of the HCOB Purchasing Managers’ Index data for Germany and the Eurozone, set for release later in the session.
Prior to the data, the cross had shown modest upward momentum, with traders positioning for potential signals on economic activity. The Eurozone PMI is closely watched as an indicator of manufacturing and services sector health, which could influence European Central Bank policy expectations.
No immediate market reaction was reported following the move, as focus remains on the upcoming data release.