Investing.com – The euro erased gains versus the U.S. dollar on Wednesday, dipping below the 1.36 mark ahead of key U.S. data on the retail sector and inflation.
EUR/USD fell to 1.3599 during European midday trade, a daily low; the pair subsequently consolidated around 1.3607, shedding 0.4%. EUR/USD was likely to find resistance at 1.3818, the high of March 17, and support at 1.3267, the low of March 25.
Earlier in the day, official data showed that industrial output in the euro zone remained upbeat in February, with the annual measure of production rising at the fastest pace in almost two years.
The euro also fell against sterling on Wednesday, with EUR/GBP dropping 0.38% to reach 0.8817.
Later Wednesday, the United States was due to publish closely watched monthly reports on consumer prices and retail sales. U.S. Federal Reserve Chairman Ben Bernanke, meanwhile, was scheduled to testify before the Joint Economic Committee of Congress. Traders were likely to scrutinize his comments for clues to future shifts in monetary policy.
EUR/USD fell to 1.3599 during European midday trade, a daily low; the pair subsequently consolidated around 1.3607, shedding 0.4%. EUR/USD was likely to find resistance at 1.3818, the high of March 17, and support at 1.3267, the low of March 25.
Earlier in the day, official data showed that industrial output in the euro zone remained upbeat in February, with the annual measure of production rising at the fastest pace in almost two years.
The euro also fell against sterling on Wednesday, with EUR/GBP dropping 0.38% to reach 0.8817.
Later Wednesday, the United States was due to publish closely watched monthly reports on consumer prices and retail sales. U.S. Federal Reserve Chairman Ben Bernanke, meanwhile, was scheduled to testify before the Joint Economic Committee of Congress. Traders were likely to scrutinize his comments for clues to future shifts in monetary policy.