Investing.com – The euro trimmed losses against the U.S. dollar on Monday, retreating from a 4-day low following the release of a flurry of mixed U.S. economic data.
EUR/USD retreated from 1.3830, the pair’s lowest since October 12 to hit 1.3934 during European afternoon trade, shedding 0.30%.
The pair was likely to find support at 1.3636, the low of October 5 and resistance at 1.4155, last Friday’s high and a 10-month high.
Earlier in the day, official data showed that U.S. Treasury International Capital purchases rose unexpectedly in August.
In a report, the U.S. Department of the Treasury said that net foreign purchases of long-term securities were USD 128.7 billion in August, after rising to a revised USD 61.2 billion in July. Economists had expected purchases of long-term securities to decrease to USD 47.5 billion in August.
Meanwhile, a separate report showed that industrial production in the U.S. fell unexpectedly in September, while the capacity utilization rate remained unchanged, in line with expectations, during the month.
Meanwhile, the euro was up against the pound, with EUR/GBP gaining 0.25% to hit 0.8764.
On Sunday, European Central Bank president Jean-Claude Trichet distanced himself from comments made on ECB monetary policy by council member Axel Weber last week. Weber said that the risk of recession in Europe was negligible and that the central bank's bond purchase program should be phased out.
Trichet said that the governing board as a whole did not agree with that view.
EUR/USD retreated from 1.3830, the pair’s lowest since October 12 to hit 1.3934 during European afternoon trade, shedding 0.30%.
The pair was likely to find support at 1.3636, the low of October 5 and resistance at 1.4155, last Friday’s high and a 10-month high.
Earlier in the day, official data showed that U.S. Treasury International Capital purchases rose unexpectedly in August.
In a report, the U.S. Department of the Treasury said that net foreign purchases of long-term securities were USD 128.7 billion in August, after rising to a revised USD 61.2 billion in July. Economists had expected purchases of long-term securities to decrease to USD 47.5 billion in August.
Meanwhile, a separate report showed that industrial production in the U.S. fell unexpectedly in September, while the capacity utilization rate remained unchanged, in line with expectations, during the month.
Meanwhile, the euro was up against the pound, with EUR/GBP gaining 0.25% to hit 0.8764.
On Sunday, European Central Bank president Jean-Claude Trichet distanced himself from comments made on ECB monetary policy by council member Axel Weber last week. Weber said that the risk of recession in Europe was negligible and that the central bank's bond purchase program should be phased out.
Trichet said that the governing board as a whole did not agree with that view.