Investing.com - The euro was steady against the dollar on Monday as uncertainty over whether the Federal Reserve will start tapering stimulus lingered after data on Friday showed that the U.S. economy added fewer than expected jobs in August.
EUR/USD hit 1.3186 during late Asian trade, the session high; the pair subsequently consolidated at 1.3178, dipping 0.02%.
The pair was likely to find support at 1.3156, the low of September 4 and resistance at 1.3222, the high of September 5.
Data on Friday showed that the U.S. economy added 169,000 jobs in August, fewer than the 180,000 forecast by economists and jobs growth for the two previous months was also revised lower.
The report sparked renewed uncertainty over whether the Fed will start to unwind its USD85 billion-a-month asset purchase program at its upcoming policy meeting on September 17-18.
Market sentiment remained supported after improved trade data out of China over the weekend added to indications that the world’s second largest economy is recovering from a slowdown.
Data on Sunday showed that Chinese exports were 7.2% higher year-over-year in August, up from 5.1% in July, and imports were up 7%.
The euro remained under pressure after European Central Bank President Mario Draghi reiterated Thursday that bank rates will stay at current or lower levels for "an extended period," despite recent signs of economic recovery in the euro zone.
Elsewhere, the euro was slightly lower against the pound, with EUR/GBP slipping 0.12% to 0.8422 and pushed higher against the yen, with EUR/JPY rising 0.33% to 131.08.
Data released on Monday showed that Japan’s economy expanded by 0.9% in the second quarter, bringing the annualized rate of growth to 3.8%, compared with a preliminary reading of 2.6%. The initial estimate for quarter on quarter growth was 0.6%.
EUR/USD hit 1.3186 during late Asian trade, the session high; the pair subsequently consolidated at 1.3178, dipping 0.02%.
The pair was likely to find support at 1.3156, the low of September 4 and resistance at 1.3222, the high of September 5.
Data on Friday showed that the U.S. economy added 169,000 jobs in August, fewer than the 180,000 forecast by economists and jobs growth for the two previous months was also revised lower.
The report sparked renewed uncertainty over whether the Fed will start to unwind its USD85 billion-a-month asset purchase program at its upcoming policy meeting on September 17-18.
Market sentiment remained supported after improved trade data out of China over the weekend added to indications that the world’s second largest economy is recovering from a slowdown.
Data on Sunday showed that Chinese exports were 7.2% higher year-over-year in August, up from 5.1% in July, and imports were up 7%.
The euro remained under pressure after European Central Bank President Mario Draghi reiterated Thursday that bank rates will stay at current or lower levels for "an extended period," despite recent signs of economic recovery in the euro zone.
Elsewhere, the euro was slightly lower against the pound, with EUR/GBP slipping 0.12% to 0.8422 and pushed higher against the yen, with EUR/JPY rising 0.33% to 131.08.
Data released on Monday showed that Japan’s economy expanded by 0.9% in the second quarter, bringing the annualized rate of growth to 3.8%, compared with a preliminary reading of 2.6%. The initial estimate for quarter on quarter growth was 0.6%.