German producer prices fell in June, weighing on the Euro and pushing EUR/CAD to session lows near 1.6030.
EUR/CAD extended losses to 1.6030 in early European trading Monday after Germany’s June Producer Price Index (PPI) declined, pressuring the Euro. The cross pared some intraday losses but remained in negative territory.
Germany’s PPI data, a key inflation indicator, fell short of expectations, signaling weaker industrial pricing power. The Eurozone’s largest economy has seen subdued producer inflation in recent months, contrasting with earlier 2024 trends.
The Canadian Dollar held firm against the softer Euro, with traders monitoring further macroeconomic releases for directional cues.