The euro declines for a second day against the Canadian dollar as disappointing German PMI figures weigh on sentiment.
EUR/CAD extended losses to around 1.6100 during European trading on Friday, marking a second consecutive day of declines. The drop follows the release of weaker-than-expected HCOB Purchasing Managers’ Index data from Germany, a key driver of eurozone economic activity.
Prior to the data, the pair had shown resilience but turned lower as the PMI figures signaled contraction in Germany’s manufacturing and services sectors. The euro’s broader weakness reflects concerns over slowing growth in the region, contrasting with relative stability in Canada’s economic outlook.
No immediate market reaction was specified beyond the currency pair’s movement.