EUR Gains Against CAD on Improved Eurozone PMI Data

The Euro (EUR) has seen gains against the Canadian Dollar (CAD) in recent trading sessions, driven by improved Purchasing Managers' Index (PMI) data from Germany and the Eurozone.

The HCOB Eurozone Composite PMI rebounded to 52.0 in July, up from June's neutral 50.0 mark, marking the first increase in regional business activity since March and the sharpest rate of growth in eight months.

Germany's Composite PMI also returned to growth for the first time since March, rising to 51.3 in July from 49.5 in June.

The EUR/CAD cross has gained ground as the commodity-linked Canadian Dollar struggles against falling energy markets, with oil prices trading near three-week lows at around $75.40 per barrel.