Investing.com – the euro trimmed losses against the U.S. dollar on Wednesday, retreating from a 5-day low, following the release of worse-than-expected data on U.S. durable goods orders.
EUR/USD retreated from 1.3770, the pair’s lowest since October 20 to hit 1.3814 during European afternoon trade, shedding 0.30%.
The pair was likely to find short-term support at 1.3697, the low of October 20 and resistance at 1.3981, Tuesday’s high.
Earlier in the day, the U.S. Census Bureau said core durable goods orders fell by a seasonally adjusted 0.8% in September, after rising by a revised 1.9% in August. Analysts had expected core durable goods orders to rise by 0.2% in September.
Durable goods orders which include transportation items rose significantly more-than-expected in September, rising by a seasonally adjusted 3.3% after falling by a revised 1.0% in August. Analysts had expected durable goods orders to rise by 1.7% in September.
The euro was also down against the pound, with EUR/GBP shedding 0.10% to hit 0.8737.
Later in the day, the U.S. was to release official data on new home sales.
EUR/USD retreated from 1.3770, the pair’s lowest since October 20 to hit 1.3814 during European afternoon trade, shedding 0.30%.
The pair was likely to find short-term support at 1.3697, the low of October 20 and resistance at 1.3981, Tuesday’s high.
Earlier in the day, the U.S. Census Bureau said core durable goods orders fell by a seasonally adjusted 0.8% in September, after rising by a revised 1.9% in August. Analysts had expected core durable goods orders to rise by 0.2% in September.
Durable goods orders which include transportation items rose significantly more-than-expected in September, rising by a seasonally adjusted 3.3% after falling by a revised 1.0% in August. Analysts had expected durable goods orders to rise by 1.7% in September.
The euro was also down against the pound, with EUR/GBP shedding 0.10% to hit 0.8737.
Later in the day, the U.S. was to release official data on new home sales.