Investing.com – The euro extended early gains against the U.S. dollar on Thursday, rising to hit a fresh 5-week high, after a successful Spanish bond auction boosted the single currency.
EUR/USD hit 1.3108 during European afternoon trade, the pair’s highest since August 11; the pair subsequently consolidated at 1.3083, gaining 0.55%.
The pair is likely to find support at 1.2828, the low of September 14, and resistance at 1.3185, the high of August 11.
Earlier in the day, Spain successfully auctioned the maximum amount of 10 and 30 year Treasury bonds, raising EUR 4 billion.
The country’s borrowing costs also fell. Yield on 10-year bonds was 4.1% compared to 4.8% at a sale in June, while yield on 30-year bonds fell to 5.0% compared to 5.9% previously.
The euro was also up against the pound, with EUR/GBP gaining 0.62% to hit 0.8380.
Later in the day, the U.S. was to release key data on initial jobless claims and producer price inflation.
EUR/USD hit 1.3108 during European afternoon trade, the pair’s highest since August 11; the pair subsequently consolidated at 1.3083, gaining 0.55%.
The pair is likely to find support at 1.2828, the low of September 14, and resistance at 1.3185, the high of August 11.
Earlier in the day, Spain successfully auctioned the maximum amount of 10 and 30 year Treasury bonds, raising EUR 4 billion.
The country’s borrowing costs also fell. Yield on 10-year bonds was 4.1% compared to 4.8% at a sale in June, while yield on 30-year bonds fell to 5.0% compared to 5.9% previously.
The euro was also up against the pound, with EUR/GBP gaining 0.62% to hit 0.8380.
Later in the day, the U.S. was to release key data on initial jobless claims and producer price inflation.