Investing.com - The euro held steady against the dollar on Tuesday after erasing earlier losses on fears Greece and its lending agencies remain at odds over austerity measures tied to bailout money.
Markets in the U.S. and a great deal of businesses in the heavily populated Atlantic coast were closed with the arrival of Hurricane Sandy.
The powerful weather system roared ashore along the New Jersey coast as a monster hybrid system packing tropical and post-tropical characteristics.
In Asian trading on Tuesday, EUR/USD was trading up 0.02% at 1.2907, up from a session low of 1.2906, and off from a high of 1.2909.
The pair is likely to find support at 1.2886, Monday's low, and resistance at 1.2936, Monday's high.
Greece has asked for a two-year extension to push through austerity measures in exchange for financial assistance.
The country will run out of money in mid-November, though members of the ruling coalition have balked at wage reforms, fueling fears Athens is digging its heels in amid negotiations with its troika of lenders, the International Monetary Fund, the European Central Bank and the European Commission.
Elsewhere in Europe, Spanish retail sales fell 10.9% from the same month a year ago, much worse than market expectations for a decline of 6.2%, which dampened appetite for risk.
Also in Europe, Prime Minister Mariano Rajoy criticized the idea of giving a new European Union Commissioner greater say-so over eurozone national budgeting policies, saying it could be counterproductive, though he did say Madrid would considering seeking a bailout "if we think it is in the interest of Spaniards."
European financing concerns sent the pair falling though uncertainty over the extent of Hurricane Sandy's damage coming just days before the Friday's October jobs report and Tuesday's presidential elections allowed for choppy trading and opened the door for bottom fishers to bring the single currency up, especially after German inflation data met expectations.
The German Federal Statistics Bureau said consumer price inflation accelerated at an annualized rate of 2.0% in October, in line with expectations and unchanged from September.
The euro, meanwhile, was up against the pound and up against the yen, with EUR/GBP trading up 0.09% at 0.8055, and EUR/JPY trading up 0.05% at 103.03.
Later Tuesday, Spain is to release preliminary third-quarter gross domestic product rates.
The U.S. is to release data on consumer confidence, a leading indicator of economic health, as well as industry data on house price inflation, an important indicator of demand in the housing sector.
Markets in the U.S. and a great deal of businesses in the heavily populated Atlantic coast were closed with the arrival of Hurricane Sandy.
The powerful weather system roared ashore along the New Jersey coast as a monster hybrid system packing tropical and post-tropical characteristics.
In Asian trading on Tuesday, EUR/USD was trading up 0.02% at 1.2907, up from a session low of 1.2906, and off from a high of 1.2909.
The pair is likely to find support at 1.2886, Monday's low, and resistance at 1.2936, Monday's high.
Greece has asked for a two-year extension to push through austerity measures in exchange for financial assistance.
The country will run out of money in mid-November, though members of the ruling coalition have balked at wage reforms, fueling fears Athens is digging its heels in amid negotiations with its troika of lenders, the International Monetary Fund, the European Central Bank and the European Commission.
Elsewhere in Europe, Spanish retail sales fell 10.9% from the same month a year ago, much worse than market expectations for a decline of 6.2%, which dampened appetite for risk.
Also in Europe, Prime Minister Mariano Rajoy criticized the idea of giving a new European Union Commissioner greater say-so over eurozone national budgeting policies, saying it could be counterproductive, though he did say Madrid would considering seeking a bailout "if we think it is in the interest of Spaniards."
European financing concerns sent the pair falling though uncertainty over the extent of Hurricane Sandy's damage coming just days before the Friday's October jobs report and Tuesday's presidential elections allowed for choppy trading and opened the door for bottom fishers to bring the single currency up, especially after German inflation data met expectations.
The German Federal Statistics Bureau said consumer price inflation accelerated at an annualized rate of 2.0% in October, in line with expectations and unchanged from September.
The euro, meanwhile, was up against the pound and up against the yen, with EUR/GBP trading up 0.09% at 0.8055, and EUR/JPY trading up 0.05% at 103.03.
Later Tuesday, Spain is to release preliminary third-quarter gross domestic product rates.
The U.S. is to release data on consumer confidence, a leading indicator of economic health, as well as industry data on house price inflation, an important indicator of demand in the housing sector.