Investing.com – The euro advanced to a fresh daily high against the U.S. dollar on Monday, after official data showed that euro zone core consumer price inflation rose in line with expectations in July.
EUR/USD hit 1.2834 during European afternoon trade, a fresh daily high; the pair subsequently consolidated at 1.2817, gaining 0.50%.
The pair was likely to find support at 1.2682, the low of July 14 and resistance at 1.3186, the high of August 11.
Earlier in the day, Eurostat said that core consumer price inflation rose by a seasonally adjusted 1.0% in July, in line with expectations, after rising 0.9% in June.
Consumer prices, excluding food, energy, alcohol, and tobacco, remained unchanged at a seasonally adjusted 1.7% in July, in line with expectations.
The euro was also up against the pound with EUR/GBP gaining 0.40% to hit 0.8211.
Later in the day, the U.S. was to release data on manufacturing activity in New York State as well as data on the balance of foreign and domestic investment in the U.S.
EUR/USD hit 1.2834 during European afternoon trade, a fresh daily high; the pair subsequently consolidated at 1.2817, gaining 0.50%.
The pair was likely to find support at 1.2682, the low of July 14 and resistance at 1.3186, the high of August 11.
Earlier in the day, Eurostat said that core consumer price inflation rose by a seasonally adjusted 1.0% in July, in line with expectations, after rising 0.9% in June.
Consumer prices, excluding food, energy, alcohol, and tobacco, remained unchanged at a seasonally adjusted 1.7% in July, in line with expectations.
The euro was also up against the pound with EUR/GBP gaining 0.40% to hit 0.8211.
Later in the day, the U.S. was to release data on manufacturing activity in New York State as well as data on the balance of foreign and domestic investment in the U.S.