Investing.com – The euro fell to a fresh daily low against the U.S. dollar on Thursday after the release of slightly disappointing data on non-manufacturing U.S. business activity.
EUR/USD shed 0.36% to hit 1.2205 during European afternoon trade, the new daily low, after retreating from a 2-day high of 1.2327.
The pair was likely to find support at 1.2099, Tuesday’s low and a 4-year low, and resistance at 1.2562, the high of May 24.
Earlier Thursday, the keenly anticipated ADP nonfarm payroll report showed that U.S. private sector employers continued to add more jobs in April, although at a slightly slower rate than forecast.
A separate report from the U.S. Labor Department showed that initial U.S. jobless claims dropped faster than expected last week.
The euro was up against the pound, meanwhile, with EUR/GBP climbing 0.07% to hit 0.8355.
Later in the day, the chairman of the U.S. Federal Reserve, Ben Bernanke, was due to speak at an event in Detroit. Traders were likely to scrutinize his comments for clues to future shifts in monetary policy.
EUR/USD shed 0.36% to hit 1.2205 during European afternoon trade, the new daily low, after retreating from a 2-day high of 1.2327.
The pair was likely to find support at 1.2099, Tuesday’s low and a 4-year low, and resistance at 1.2562, the high of May 24.
Earlier Thursday, the keenly anticipated ADP nonfarm payroll report showed that U.S. private sector employers continued to add more jobs in April, although at a slightly slower rate than forecast.
A separate report from the U.S. Labor Department showed that initial U.S. jobless claims dropped faster than expected last week.
The euro was up against the pound, meanwhile, with EUR/GBP climbing 0.07% to hit 0.8355.
Later in the day, the chairman of the U.S. Federal Reserve, Ben Bernanke, was due to speak at an event in Detroit. Traders were likely to scrutinize his comments for clues to future shifts in monetary policy.