Investing.com – The euro was up against the U.S. dollar on Wednesday, advancing to a fresh daily high, after the release of official German data on retail sales.
EUR/USD hit 1.2724 during late Asian trade, a daily high; the pair subsequently consolidated at 1.2722, gaining 0.33%.
The pair is likely to find support at 1.2587, the low of August 24 and a 6-week low, and resistance at 1.2767, the high of August 30.
In a report, Germany’s Federal Statistics Office said retail sales declined by a seasonally adjusted -0.3% in July, after falling -0.3% in June, whose figure was revised from -0.9%.
Analysts had expected retail sales to rise by 0.6% in July.
The report also showed that retail sales rose by a seasonally adjusted 0.8% year-on-year.
Meanwhile, the euro was down against the pound, with EUR/GBP shedding 0.10% to hit 0.8253.
Later in the day, the U.S. was to release a report on ADP non-farm employment change, as well as official government data on manufacturing activity.
EUR/USD hit 1.2724 during late Asian trade, a daily high; the pair subsequently consolidated at 1.2722, gaining 0.33%.
The pair is likely to find support at 1.2587, the low of August 24 and a 6-week low, and resistance at 1.2767, the high of August 30.
In a report, Germany’s Federal Statistics Office said retail sales declined by a seasonally adjusted -0.3% in July, after falling -0.3% in June, whose figure was revised from -0.9%.
Analysts had expected retail sales to rise by 0.6% in July.
The report also showed that retail sales rose by a seasonally adjusted 0.8% year-on-year.
Meanwhile, the euro was down against the pound, with EUR/GBP shedding 0.10% to hit 0.8253.
Later in the day, the U.S. was to release a report on ADP non-farm employment change, as well as official government data on manufacturing activity.