Investing.com - The euro was lower against the U.S. dollar on Thursday, as ongoing uncertainty over Spain and Greece weighed, but losses were limited following the release of encouraging Chinese manufacturing data.
EUR/USD hit 1.2932 during late Asian trade, the session low; the pair subsequently consolidated at 1.2933, down 0.20%.
The pair was likely to find support at 1.2885, Tuesday’s low and resistance at 1.3019, Wednesday’s high.
The single currency remained under pressure amid uncertainty over when Spain may request a bailout and whether Greece will secure the next tranche of its bailout funding.
Market sentiment found support after official data showed that China’s manufacturing purchasing managers’ index came in at 50.2 in October, up from 49.8 in September, just slightly below forecasts for a reading of 50.3.
A separate report showed that the final reading of China’s HSBC PMI came in at 49.5 in September, an eight month high.
The data eased concerns over a slowdown in the world’s second largest economy, but investors remained cautious ahead of U.S. data on nonfarm payrolls on Friday and the U.S. presidential elections next week.
The euro was lower against the pound, with EUR/GBP down 0.17% to 0.8020, but pushed higher against the yen, with EUR/JPY rising 0.11% to 103.47.
Later in the day, the U.S. was to release the ADP report on nonfarm payrolls, as well as the weekly government report on initial jobless claims.
In addition, the Institute of Supply Management was to publish data on U.S. manufacturing activity.
EUR/USD hit 1.2932 during late Asian trade, the session low; the pair subsequently consolidated at 1.2933, down 0.20%.
The pair was likely to find support at 1.2885, Tuesday’s low and resistance at 1.3019, Wednesday’s high.
The single currency remained under pressure amid uncertainty over when Spain may request a bailout and whether Greece will secure the next tranche of its bailout funding.
Market sentiment found support after official data showed that China’s manufacturing purchasing managers’ index came in at 50.2 in October, up from 49.8 in September, just slightly below forecasts for a reading of 50.3.
A separate report showed that the final reading of China’s HSBC PMI came in at 49.5 in September, an eight month high.
The data eased concerns over a slowdown in the world’s second largest economy, but investors remained cautious ahead of U.S. data on nonfarm payrolls on Friday and the U.S. presidential elections next week.
The euro was lower against the pound, with EUR/GBP down 0.17% to 0.8020, but pushed higher against the yen, with EUR/JPY rising 0.11% to 103.47.
Later in the day, the U.S. was to release the ADP report on nonfarm payrolls, as well as the weekly government report on initial jobless claims.
In addition, the Institute of Supply Management was to publish data on U.S. manufacturing activity.