Investing.com - The euro rose to session highs against the dollar on Monday after data showed that service sector activity in the U.S. slowed unexpectedly in December, led lower by a drop in new orders.
EUR/USD hit session highs of 1.3635 and was last up 0.26% to 1.3624.
The pair was likely to find support at 1.3581, Friday’s low and an almost four-week low and resistance at 1.3670, Friday’s high.
The Institute of Supply Management said its non-manufacturing purchasing manager's index declined to 53.0 in December from 53.9 in November.
Analysts had expected the index to increase to 54.5.
The New Orders Index contracted after 52 consecutive months of growth for the first time since July 2009, falling to 49.4. However, the Employment Index ticked up to 55.8, indicating growth in employment for the 17th consecutive month and at a faster rate.
In the euro zone, data released on Monday showed that the bloc’s services PMI came in at 51.0 in December, unchanged from the preliminary estimate and down slightly from 51.2 in November.
Separate reports showed that activity in Spain’s private sector expanded at the fastest rate in 77 months, but activity in France and Italy contracted last month.
The dollar was slightly lower against the yen, with USD/JPY slipping 0.10% to 104.72, not far from the five year highs of 105.43 struck last Thursday.
Elsewhere, the euro pushed higher against the yen, with EUR/JPY easing up 0.14% to 142.68.
EUR/USD hit session highs of 1.3635 and was last up 0.26% to 1.3624.
The pair was likely to find support at 1.3581, Friday’s low and an almost four-week low and resistance at 1.3670, Friday’s high.
The Institute of Supply Management said its non-manufacturing purchasing manager's index declined to 53.0 in December from 53.9 in November.
Analysts had expected the index to increase to 54.5.
The New Orders Index contracted after 52 consecutive months of growth for the first time since July 2009, falling to 49.4. However, the Employment Index ticked up to 55.8, indicating growth in employment for the 17th consecutive month and at a faster rate.
In the euro zone, data released on Monday showed that the bloc’s services PMI came in at 51.0 in December, unchanged from the preliminary estimate and down slightly from 51.2 in November.
Separate reports showed that activity in Spain’s private sector expanded at the fastest rate in 77 months, but activity in France and Italy contracted last month.
The dollar was slightly lower against the yen, with USD/JPY slipping 0.10% to 104.72, not far from the five year highs of 105.43 struck last Thursday.
Elsewhere, the euro pushed higher against the yen, with EUR/JPY easing up 0.14% to 142.68.