Investing.com - The euro edged lower against the dollar on Monday as the greenback firmed up ahead of Tuesday’s U.S. jobs report for September, amid speculation over whether the Federal Reserve will delay plans to taper stimulus.
EUR/USD hit 1.3652 during U.S. morning trade, the lowest since Thursday; the pair subsequently consolidated at 1.3674, dipping 0.07%.
The pair was likely to find support at 1.3630 and resistance at 1.3703, Friday’s high and an eight-month high.
The greenback steadied on Monday after falling sharply against the other main currencies late last week on concerns over the impact of the 16-day government shutdown on the fragile U.S. economic recovery.
As the threat of a possible default receded, investors turned their focus back to how much longer the Fed will maintain the current pace of its asset purchase program.
Market participants were awaiting U.S. data releases later in the week after the shutdown delayed the release of some key economic reports. The September nonfarm payrolls report, which had been originally scheduled for release on October 4, was due on Tuesday.
Elsewhere, the euro was unchanged against the pound, with EUR/GBP dipping 0.01% to 0.8462 and was higher against the yen, with EUR/JPY rising 0.28% to 134.18.
The yen slid after data released on Monday showed that Japan posted a trade deficit of JPY932.1 billion in September, as export growth slowed. It was the 15th consecutive monthly deficit, the longest run on record.
Bank of Japan Governor Haruhiko Kuroda reiterated Monday that the bank would stick to its stimulus program and added that the economy was on track to reach the bank's 2% inflation target.
EUR/USD hit 1.3652 during U.S. morning trade, the lowest since Thursday; the pair subsequently consolidated at 1.3674, dipping 0.07%.
The pair was likely to find support at 1.3630 and resistance at 1.3703, Friday’s high and an eight-month high.
The greenback steadied on Monday after falling sharply against the other main currencies late last week on concerns over the impact of the 16-day government shutdown on the fragile U.S. economic recovery.
As the threat of a possible default receded, investors turned their focus back to how much longer the Fed will maintain the current pace of its asset purchase program.
Market participants were awaiting U.S. data releases later in the week after the shutdown delayed the release of some key economic reports. The September nonfarm payrolls report, which had been originally scheduled for release on October 4, was due on Tuesday.
Elsewhere, the euro was unchanged against the pound, with EUR/GBP dipping 0.01% to 0.8462 and was higher against the yen, with EUR/JPY rising 0.28% to 134.18.
The yen slid after data released on Monday showed that Japan posted a trade deficit of JPY932.1 billion in September, as export growth slowed. It was the 15th consecutive monthly deficit, the longest run on record.
Bank of Japan Governor Haruhiko Kuroda reiterated Monday that the bank would stick to its stimulus program and added that the economy was on track to reach the bank's 2% inflation target.