Investing.com - The euro was mixed against its global counterparts on Monday, as demand for the single currency was hit by concerns over the outcome of a Greek debt restructuring deal and mixed euro zone economic data.
During European late morning trade, the euro was slightly lower against the U.S. dollar, with EUR/USD slipping 0.11% to hit 1.3184.
Sentiment on the euro remained fragile ahead of the March 8 deadline for bondholders to join the agreement under which they will exchange their existing Greek holdings for government bonds in a debt swap deal.
A failure to agree on the debt restructuring deal would put the country back on the brink of a sovereign debt default.
Official data showed earlier that retail sales across the euro zone rose for the first time in five months in January, increasing by a seasonally adjusted 0.3%, defying expectations for a 0.1% decline.
The report came after data showing that euro zone's services sector contracted at faster rate than initially estimated in February, shrinking for the fifth time in six months.
A separate report showed that investor confidence in the euro zone improved less-than-expected this month, remaining in negative territory for the eighth consecutive month.
Elsewhere, the euro was fractionally lower against the pound, with EUR/GBP dipping 0.02% to hit 0.8334.
Earlier Monday, data showed that the U.K. service sector expanded in February, albeit at a slower than expected pace, fuelling hopes that the economy will avoid slipping into a recession in the first quarter.
The single currency fell sharply against the broadly stronger yen, with EUR/JPY dropping 0.80% to hit 107.11.
The euro was fractionally lower against the Swiss franc, with EUR/CHF inching down 0.04% to hit 1.2060.
In Switzerland, official data showed that retail sales increased at the fastest rate in seven months in January, jumping 4.4% year-over-year, after a 1.7% increase the previous month.
In contrast, the euro was higher against the Australian, New Zealand and Canadian dollars, with EUR/AUD rising 0.42% to hit 1.2348, EUR/NZD jumping 0.80% to hit 1.6044 and EUR/CAD advancing 0.54% to hit 1.3125.
An industry report earlier showed that Australia’s services sector contracted in February, while government data showed that company operating profits fell unexpectedly in the fourth quarter.
Elsewhere, Chinese Premier Wen Jiabao cut the nation's economic growth target to 7.5% for 2012 earlier, down from a previous target of 8%, in order to allow the pace of economic expansion room to moderate if necessary.
Later in the day, the U.S. was to produce government data on factory orders, while the Institute of Supply Management was to release its closely watched report on U.S. service sector growth.
During European late morning trade, the euro was slightly lower against the U.S. dollar, with EUR/USD slipping 0.11% to hit 1.3184.
Sentiment on the euro remained fragile ahead of the March 8 deadline for bondholders to join the agreement under which they will exchange their existing Greek holdings for government bonds in a debt swap deal.
A failure to agree on the debt restructuring deal would put the country back on the brink of a sovereign debt default.
Official data showed earlier that retail sales across the euro zone rose for the first time in five months in January, increasing by a seasonally adjusted 0.3%, defying expectations for a 0.1% decline.
The report came after data showing that euro zone's services sector contracted at faster rate than initially estimated in February, shrinking for the fifth time in six months.
A separate report showed that investor confidence in the euro zone improved less-than-expected this month, remaining in negative territory for the eighth consecutive month.
Elsewhere, the euro was fractionally lower against the pound, with EUR/GBP dipping 0.02% to hit 0.8334.
Earlier Monday, data showed that the U.K. service sector expanded in February, albeit at a slower than expected pace, fuelling hopes that the economy will avoid slipping into a recession in the first quarter.
The single currency fell sharply against the broadly stronger yen, with EUR/JPY dropping 0.80% to hit 107.11.
The euro was fractionally lower against the Swiss franc, with EUR/CHF inching down 0.04% to hit 1.2060.
In Switzerland, official data showed that retail sales increased at the fastest rate in seven months in January, jumping 4.4% year-over-year, after a 1.7% increase the previous month.
In contrast, the euro was higher against the Australian, New Zealand and Canadian dollars, with EUR/AUD rising 0.42% to hit 1.2348, EUR/NZD jumping 0.80% to hit 1.6044 and EUR/CAD advancing 0.54% to hit 1.3125.
An industry report earlier showed that Australia’s services sector contracted in February, while government data showed that company operating profits fell unexpectedly in the fourth quarter.
Elsewhere, Chinese Premier Wen Jiabao cut the nation's economic growth target to 7.5% for 2012 earlier, down from a previous target of 8%, in order to allow the pace of economic expansion room to moderate if necessary.
Later in the day, the U.S. was to produce government data on factory orders, while the Institute of Supply Management was to release its closely watched report on U.S. service sector growth.