Investing.com - The euro was steady against the U.S. dollar on Wednesday, as encouraging data from China supported market sentiment, but gains were limited ahead of more data from the euro zone later in the session.
EUR/USD hit 1.2997 during early European trade, the session high; the pair subsequently consolidated at 1.2992, inching up 0.05%.
The pair was likely to find support at 1.2942, the low of October 16 and resistance at 1.3074, Tuesday’s high.
Earlier Wednesday, a report showed that China's HSBC manufacturing purchasing managers' index came in at 49.1 in October, compared with a final reading of 47.9 in September.
Investors remained cautious ahead of the release of PMI data from Germany and the euro zone, as well as a closely watched report on German business climate.
France’s manufacturing PMI rose to a seasonally adjusted 43.5 in October, from a final reading of 42.7 in September, compared to expectations for a reading of 44.0.
Elsewhere, German media outlets reported Wednesday that Greece is to be given an extra two years to bring its budget deficit into line with targets after talks between Greek coalition leaders on the EUR13.5 billion in austerity cuts demanded by the Troika ended in deadlock on Tuesday.
The euro was lower against the pound, with EUR/GBP slipping 0.12% to 0.8130, but was little changed against the yen, with EUR/JPY inching up 0.05% to 103.74.
Later Wednesday, the Federal Reserve was to announce its benchmark interest rate and release its first monetary policy statement since the central bank announced a third round of quantitative easing in September. The U.S. was to release official data on new home sales.
EUR/USD hit 1.2997 during early European trade, the session high; the pair subsequently consolidated at 1.2992, inching up 0.05%.
The pair was likely to find support at 1.2942, the low of October 16 and resistance at 1.3074, Tuesday’s high.
Earlier Wednesday, a report showed that China's HSBC manufacturing purchasing managers' index came in at 49.1 in October, compared with a final reading of 47.9 in September.
Investors remained cautious ahead of the release of PMI data from Germany and the euro zone, as well as a closely watched report on German business climate.
France’s manufacturing PMI rose to a seasonally adjusted 43.5 in October, from a final reading of 42.7 in September, compared to expectations for a reading of 44.0.
Elsewhere, German media outlets reported Wednesday that Greece is to be given an extra two years to bring its budget deficit into line with targets after talks between Greek coalition leaders on the EUR13.5 billion in austerity cuts demanded by the Troika ended in deadlock on Tuesday.
The euro was lower against the pound, with EUR/GBP slipping 0.12% to 0.8130, but was little changed against the yen, with EUR/JPY inching up 0.05% to 103.74.
Later Wednesday, the Federal Reserve was to announce its benchmark interest rate and release its first monetary policy statement since the central bank announced a third round of quantitative easing in September. The U.S. was to release official data on new home sales.