Investing.com - The euro remained slightly higher against the U.S. dollar in subdued trade on Thursday, ahead of the release of a flurry of U.S. data as optimism over a deal on the U.S. fiscal cliff dimmed.
EUR/USD hit 1.3269 during European afternoon trade, the session high; the pair subsequently consolidated at 1.3246, up 0.15%.
The pair was likely to find support at 1.3143, Monday’s low and resistance at 1.3307, Wednesday’s high and an eight-and-a-half month high.
Market sentiment was hit by growing doubts over whether a deal to avoid the U.S. fiscal cliff will be reached ahead of the January 1 deadline, fuelling concern that automatic tax hikes and spending cuts will be triggered.
A spokesman for President Barack Obama said Wednesday that the White House would veto a tax and spending proposal presented by House Speaker John Boehner.
Trade was expected to remain subdued on Thursday, as markets wound down ahead of the Christmas holidays.
The euro edged higher against the pound, with EUR/GBP rising 0.09% to 0.8148 and slipped lower against the yen, with EUR/JPY losing 0.13% to trade at 111.49.
The yen firmed up earlier in the session after the Bank of Japan unveiled additional easing measures, following calls by incoming Prime Minister Shinzo Abe for policymakers to implement more aggressive measures to spur growth and combat deflation.
The U.S. was to release the weekly report on initial jobless claims, as well as revised data on third quarter growth and data on manufacturing activity in Philadelphia later in the trading day. In addition, the U.S. was to publish industry data on existing home sales.
EUR/USD hit 1.3269 during European afternoon trade, the session high; the pair subsequently consolidated at 1.3246, up 0.15%.
The pair was likely to find support at 1.3143, Monday’s low and resistance at 1.3307, Wednesday’s high and an eight-and-a-half month high.
Market sentiment was hit by growing doubts over whether a deal to avoid the U.S. fiscal cliff will be reached ahead of the January 1 deadline, fuelling concern that automatic tax hikes and spending cuts will be triggered.
A spokesman for President Barack Obama said Wednesday that the White House would veto a tax and spending proposal presented by House Speaker John Boehner.
Trade was expected to remain subdued on Thursday, as markets wound down ahead of the Christmas holidays.
The euro edged higher against the pound, with EUR/GBP rising 0.09% to 0.8148 and slipped lower against the yen, with EUR/JPY losing 0.13% to trade at 111.49.
The yen firmed up earlier in the session after the Bank of Japan unveiled additional easing measures, following calls by incoming Prime Minister Shinzo Abe for policymakers to implement more aggressive measures to spur growth and combat deflation.
The U.S. was to release the weekly report on initial jobless claims, as well as revised data on third quarter growth and data on manufacturing activity in Philadelphia later in the trading day. In addition, the U.S. was to publish industry data on existing home sales.