Euro Weakens vs Canadian Dollar After German PPI Decline

EUR/CAD remained in negative territory during early European trading on Monday, with the pair hovering near 1.6030 after paring earlier losses.

The Euro came under pressure following the release of Germany's Producer Price Index (PPI) for June, which fell compared to expectations. The weaker PPI data weighed on the single currency, keeping the cross subdued against the Canadian Dollar.

No further economic releases from Canada or the eurozone were cited in the report, leaving the pair driven by the German data and broader market sentiment.