Investing.com – The euro was up against the U.S. dollar on Tuesday, advancing to a fresh 6-day high, after better-than-expected data on German wholesale prices.
EUR/USD hit 1.2902 during late Asian trade, the pair’s highest since September 6; the pair subsequently consolidated at 1.2895, gaining 0.10%.
The pair is likely to find support at 1.2702, Monday’s low, and resistance at 1.2917, the high of September 6.
Earlier in the day, official data showed that Germany’s wholesale price index rose more-than-expected in August, increasing by a seasonally adjusted 1.6%, after declining 0.3% in July.
Analysts had expected the wholesale price index to rise by 0.3% in August.
The report showed that year-on-year, Germany’s WPI rose by 6.4% in August, compared to 5.3% in July.
The euro was also up against the pound, with EUR/GBP gaining 0.40% to hit 0.8384.
Later in the day, the ZEW Centre for Economic Research was to release a key report on German economic sentiment and consumer sentiment in the wider euro zone region. Meanwhile, the euro zone was also due to produce data on industrial production.
EUR/USD hit 1.2902 during late Asian trade, the pair’s highest since September 6; the pair subsequently consolidated at 1.2895, gaining 0.10%.
The pair is likely to find support at 1.2702, Monday’s low, and resistance at 1.2917, the high of September 6.
Earlier in the day, official data showed that Germany’s wholesale price index rose more-than-expected in August, increasing by a seasonally adjusted 1.6%, after declining 0.3% in July.
Analysts had expected the wholesale price index to rise by 0.3% in August.
The report showed that year-on-year, Germany’s WPI rose by 6.4% in August, compared to 5.3% in July.
The euro was also up against the pound, with EUR/GBP gaining 0.40% to hit 0.8384.
Later in the day, the ZEW Centre for Economic Research was to release a key report on German economic sentiment and consumer sentiment in the wider euro zone region. Meanwhile, the euro zone was also due to produce data on industrial production.