Investing.com - The euro was trading a narrow range against its global counterparts on Tuesday, as sentiment on the single currency remained fragile amid lingering concerns over the debt crisis in the euro zone.
During European early afternoon trade, the euro was fractionally lower against the U.S. dollar, with EUR/USD dipping 0.03% to hit 1.3352.
The dollar remained broadly weaker after dovish comments by Federal Reserve Chairman Ben Bernanke on Monday fanned speculation over the possibility of a third round of easing from the central bank.
But sentiment on the euro was dented earlier after an index of consumer climate for Germany fell unexpectedly in March, ticking down to 5.9 from 6.0 the previous month.
Analysts had expected the index to rise to 6.2 in March.
Meanwhile, concerns over Spanish borrowing costs lingered ahead of the country’s budget statement on Friday, amid concerns that the government will pull back on imposing harsh austerity measures in the face of a looming recession.
Earlier Tuesday, Eurogroup chairman Olli Rehn said that euro zone finance ministers would reach an agreement on the size of the bailout fund for indebted countries at a meeting to be held in Copenhagen on Friday.
The shared currency edged higher against the pound, with EUR/GBP inching up 0.04% to hit 0.8367.
In the U.K., a report by the Confederation of British Industry showed that retail sale volumes improved unexpectedly in March, as its index of annual sales growth rose to zero from minus 2 last month, against expectations for a reading of minus 4.
However, the report indicated that retailers expect conditions to worsen next month amid rising unemployment and higher energy prices.
The euro eased higher against the yen, with EUR/JPY rising 0.06% to hit 110.70, but slid slightly lower against the Swiss franc, with EUR/CHF dipping 0.05% to hit 1.2055.
The shared currency was mixed to higher against the Canadian, Australian and New Zealand dollars, with EUR/CAD easing up 0.08% to hit 1.3245, EUR/AUD inching up 0.07% to hit 1.2690 and EUR/NZD sliding 0.09% to hit 1.6210.
Later in the day, Fed Chair Ben Bernanke was to speak at a public engagement. In addition the U.S. was to release a closely watched report on consumer confidence, as well as industry data on house price inflation.
During European early afternoon trade, the euro was fractionally lower against the U.S. dollar, with EUR/USD dipping 0.03% to hit 1.3352.
The dollar remained broadly weaker after dovish comments by Federal Reserve Chairman Ben Bernanke on Monday fanned speculation over the possibility of a third round of easing from the central bank.
But sentiment on the euro was dented earlier after an index of consumer climate for Germany fell unexpectedly in March, ticking down to 5.9 from 6.0 the previous month.
Analysts had expected the index to rise to 6.2 in March.
Meanwhile, concerns over Spanish borrowing costs lingered ahead of the country’s budget statement on Friday, amid concerns that the government will pull back on imposing harsh austerity measures in the face of a looming recession.
Earlier Tuesday, Eurogroup chairman Olli Rehn said that euro zone finance ministers would reach an agreement on the size of the bailout fund for indebted countries at a meeting to be held in Copenhagen on Friday.
The shared currency edged higher against the pound, with EUR/GBP inching up 0.04% to hit 0.8367.
In the U.K., a report by the Confederation of British Industry showed that retail sale volumes improved unexpectedly in March, as its index of annual sales growth rose to zero from minus 2 last month, against expectations for a reading of minus 4.
However, the report indicated that retailers expect conditions to worsen next month amid rising unemployment and higher energy prices.
The euro eased higher against the yen, with EUR/JPY rising 0.06% to hit 110.70, but slid slightly lower against the Swiss franc, with EUR/CHF dipping 0.05% to hit 1.2055.
The shared currency was mixed to higher against the Canadian, Australian and New Zealand dollars, with EUR/CAD easing up 0.08% to hit 1.3245, EUR/AUD inching up 0.07% to hit 1.2690 and EUR/NZD sliding 0.09% to hit 1.6210.
Later in the day, Fed Chair Ben Bernanke was to speak at a public engagement. In addition the U.S. was to release a closely watched report on consumer confidence, as well as industry data on house price inflation.