Euro Holds Gains Amid Strong Eurozone Data

The Euro (EUR) has stabilized at three-week highs due to favorable data and declining oil prices. The EUR/USD pair is trading around 1.1550, a gain of about 1.6% from last week's lows.

Lower oil prices and upbeat Eurozone data have been supporting the common currency. German Factory Orders rose 3.1% in June, exceeding market forecasts of a 0.3% increase.

However, investors are cautious ahead of the US Nonfarm Payrolls release, which is weighing on the US Dollar (USD).