Investing.com - The euro slipped lower against the U.S. dollar on Monday, after the release of mixed U.S. economic reports as investors remained focused on the outcome of the Federal Reserve's monthly policy meeting later in the week.
EUR/USD hit 1.3776 during U.S. morning trade, the session low; the pair subsequently consolidated at 1.3783, slipping 0.16%.
The pair was likely to find support at 1.3662, the low of October 22 and resistance at 1.3831, Friday’s high and the highest since November 2011.
Data released on Monday showed that U.S. industrial production rose by a 0.6% last month, above expectations for a 0.4% rise and the fastest increase in seven months.
A separate report showed that U.S. pending home sales fell 5.6% last month, down for the fourth consecutive month.
Investors were cautious ahead of the Fed's upcoming policy meeting later in the week after recent disappointing economic data cemented expectations that the central bank will maintain the current pace of its asset purchase program into the first quarter of next year.
The euro was higher against the yen, with EUR/JPY adding 0.13% to 134.63.
Elsewhere, the single currency edged lower against the pound, with EUR/GBP slipping 0.08% to 0.8531.
The pound showed little reaction after a report compiled by the Confederation of British Industry said just 2% of retailers reported an increase in sales in October, down from 34% in September.
EUR/USD hit 1.3776 during U.S. morning trade, the session low; the pair subsequently consolidated at 1.3783, slipping 0.16%.
The pair was likely to find support at 1.3662, the low of October 22 and resistance at 1.3831, Friday’s high and the highest since November 2011.
Data released on Monday showed that U.S. industrial production rose by a 0.6% last month, above expectations for a 0.4% rise and the fastest increase in seven months.
A separate report showed that U.S. pending home sales fell 5.6% last month, down for the fourth consecutive month.
Investors were cautious ahead of the Fed's upcoming policy meeting later in the week after recent disappointing economic data cemented expectations that the central bank will maintain the current pace of its asset purchase program into the first quarter of next year.
The euro was higher against the yen, with EUR/JPY adding 0.13% to 134.63.
Elsewhere, the single currency edged lower against the pound, with EUR/GBP slipping 0.08% to 0.8531.
The pound showed little reaction after a report compiled by the Confederation of British Industry said just 2% of retailers reported an increase in sales in October, down from 34% in September.