Investing.com - The euro was lower against the U.S. dollar on Monday, amid ongoing uncertainty over Spain and Greece, while trade was expected to remain light with markets in the U.S. closed as a result of Hurricane Sandy.
EUR/USD hit 1.2910 during late Asian trade, the session low; the pair subsequently consolidated at 1.2913, shedding 0.19%.
The pair was likely to find support at 1.2834, the low of October 10 and resistance at 1.2942, the session high.
Investors continued to await any indication that Spain is preparing to request a bailout from its euro zone partners, which would activate a bond buying program by the European Central Bank.
Meanwhile, doubts over whether Greece can meet austerity targets demanded by the troika mounted after the country’s opposition leader said his party would vote against an austerity package expected to go before parliament later this week.
Trading activity was expected to remain thin on Monday, as a result of the first unscheduled, market-wide shut down since September 2001as Hurricane Sandy approached the northeastern U.S.
The euro was little changed against the pound, with EUR/GBP dipping 0.03% to 0.8033, but was lower against the yen, with EUR/JPY down 0.22% to 102.82.
Later in the day, Germany was to release official data on consumer inflation, while the U.S was to produce official data on household income and spending.
EUR/USD hit 1.2910 during late Asian trade, the session low; the pair subsequently consolidated at 1.2913, shedding 0.19%.
The pair was likely to find support at 1.2834, the low of October 10 and resistance at 1.2942, the session high.
Investors continued to await any indication that Spain is preparing to request a bailout from its euro zone partners, which would activate a bond buying program by the European Central Bank.
Meanwhile, doubts over whether Greece can meet austerity targets demanded by the troika mounted after the country’s opposition leader said his party would vote against an austerity package expected to go before parliament later this week.
Trading activity was expected to remain thin on Monday, as a result of the first unscheduled, market-wide shut down since September 2001as Hurricane Sandy approached the northeastern U.S.
The euro was little changed against the pound, with EUR/GBP dipping 0.03% to 0.8033, but was lower against the yen, with EUR/JPY down 0.22% to 102.82.
Later in the day, Germany was to release official data on consumer inflation, while the U.S was to produce official data on household income and spending.