Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Forex - EUR/USD holds steady above 11-month low

ForexDec 27, 2011 02:19AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Investing.com - The euro was steady against the U.S. dollar on Tuesday, holding above an eleven-month low amid signs of economic recovery in the U.S. and sustained concerns over the debt crisis in the euro zone.

EUR/USD hit 1.3077 during late Asian trade, the daily high; the pair subsequently consolidated at 1.3069, edging up 0.07%.

The pair was likely to find support at 1.3016, the low of December 22 and resistance at 1.3131, the high of December 20.

Trading volumes were low, resulting in subdued trade as many investors were already away on year-end leave, resulting in subdued trade.

Government data showed Friday that U.S. new home sales rose to a seven-month high in November, while durable goods orders rose a better-than-expected 3.8% in November from October.

Both reports came amid a week marked by bullish U.S. economic indicators, including a report showing that initial jobless claims fell to the lowest level since April 2008.

Meanwhile, the threat of mass credit ratings downgrades for euro zone countries still lingered, with Standard & Poor's yet to announce if it will cut ratings on any of the 15 countries it has on credit watch negative.

Investors were also eyeing Italian three and ten-year bond auctions this week. The yield on Italy’s ten-year bonds topped the critical 7% threshold on Friday, adding to concerns over handling of the country’s financial troubles.

Elsewhere, the euro was fractionally lower against the pound with EUR/GBP edging down 0.01%, to hit 0.8353.

Later in the day, the U.S. was to publish industry data on house price inflation, as well as a report on consumer confidence and manufacturing activity in Richmond.


Forex - EUR/USD holds steady above 11-month low
 

Related Articles

Dollar Weakens as Treasury Yields Retreat Once More
Dollar Weakens as Treasury Yields Retreat Once More By Investing.com - Apr 21, 2021 6

By Peter Nurse Investing.com - The dollar edged lower in early European trading Wednesday, retreating once more near to seven-week lows as lower bond yields reduced its...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email