German economic sentiment declines, weighing on the Euro and pushing EUR/CAD to 1.1570 after a three-day rally.
The Euro retreated against the Canadian Dollar, trading at 1.1570 in European hours after German ZEW Survey data dampened sentiment. The pair erased gains from the past three sessions as investors reacted to weaker-than-expected economic indicators from Germany.
Prior to the release, EUR/CAD had climbed steadily, supported by broader USD weakness and improving risk appetite. The ZEW Survey, a key gauge of economic sentiment, fell short of expectations, reinforcing concerns about Eurozone growth prospects.
Markets showed limited immediate reaction beyond the initial dip, with traders awaiting further data for direction.