Investing.com - The euro fell against the dollar in Asian trading on Thursday even as investors remained hopeful a Greek bond buyback will open the door to aid flowing back into the country's coffers.
Trading was edgy ahead of a European Central Bank meeting scheduled to open later during the day, which sent the pair jumping in and out of positive territory.
In Asian trading on Thursday, EUR/USD was trading down 0.08% at 1.3057, up from a session low of 1.3056, and off from a high of 1.3077.
The pair was likely to find support at 1.2994, Monday's low, and resistance at 1.3127, Wednesday's high.
Spirits remained somewhat buoyant as Greece carried on with plans to buy back debt.
Athens is looking to repurchased EUR10 billion government debt as part of an agreement to tap EUR44 billion in fresh bailout funds.
Hopes Greece will move closer to fiscal health sent the pair gaining earlier though profit-taking erased those gains.
The Spanish government went to auction earlier and raised EUR4.3 billion, short of a EUR4.5 billion target.
Elsewhere, official data released earlier eurozone retail sales dropped 1.2% in October, well below expectations for a 0.1% decline.
A closely watched private-sector jobs report in the U.S. disappointed earlier, fueling some safe-haven dollar demand early in the session.
Payroll processor ADP reported that nonfarm payrolls rose by a seasonally adjusted 118,000 in November, below expectations for an increase of 125,000, though Superstorm Sandy disrupted economic activity in a large swath of the heavily populated eastern United States.
October's figure was revised down to a gain of 157,000 from a previously reported increase of 158,000.
Elsewhere in the U.S., the Institute of Supply Management reported that service-sector activity expanded at a quicker pace than expected in November.
The ISM non-manufacturing purchasing manager's index rose to 54.7 last month from 54.2 in October, compared to expectations for a decline to 53.5.
Market participants continued to focus on U.S. budget talks, which fueled safe-haven demand for the greenback as well.
Earlier, U.S. Treasury Secretary Timothy Geithner said the White House won't accept a 2013 fiscal framework without raising taxes on the top 2% of U.S. earners, a proposal Republicans have rejected.
The euro, meanwhile, was down against the pound and down against the yen, with EUR/GBP trading down 0.06% at 0.8113, and EUR/JPY trading down 0.13% at 107.62.
Later Thursday aside from the ECB meeting and decision on interest rates, Germany is to publish official data on factory orders, a leading indicator of production.
The U.S. is to publish the weekly government report on initial jobless claims.
Trading was edgy ahead of a European Central Bank meeting scheduled to open later during the day, which sent the pair jumping in and out of positive territory.
In Asian trading on Thursday, EUR/USD was trading down 0.08% at 1.3057, up from a session low of 1.3056, and off from a high of 1.3077.
The pair was likely to find support at 1.2994, Monday's low, and resistance at 1.3127, Wednesday's high.
Spirits remained somewhat buoyant as Greece carried on with plans to buy back debt.
Athens is looking to repurchased EUR10 billion government debt as part of an agreement to tap EUR44 billion in fresh bailout funds.
Hopes Greece will move closer to fiscal health sent the pair gaining earlier though profit-taking erased those gains.
The Spanish government went to auction earlier and raised EUR4.3 billion, short of a EUR4.5 billion target.
Elsewhere, official data released earlier eurozone retail sales dropped 1.2% in October, well below expectations for a 0.1% decline.
A closely watched private-sector jobs report in the U.S. disappointed earlier, fueling some safe-haven dollar demand early in the session.
Payroll processor ADP reported that nonfarm payrolls rose by a seasonally adjusted 118,000 in November, below expectations for an increase of 125,000, though Superstorm Sandy disrupted economic activity in a large swath of the heavily populated eastern United States.
October's figure was revised down to a gain of 157,000 from a previously reported increase of 158,000.
Elsewhere in the U.S., the Institute of Supply Management reported that service-sector activity expanded at a quicker pace than expected in November.
The ISM non-manufacturing purchasing manager's index rose to 54.7 last month from 54.2 in October, compared to expectations for a decline to 53.5.
Market participants continued to focus on U.S. budget talks, which fueled safe-haven demand for the greenback as well.
Earlier, U.S. Treasury Secretary Timothy Geithner said the White House won't accept a 2013 fiscal framework without raising taxes on the top 2% of U.S. earners, a proposal Republicans have rejected.
The euro, meanwhile, was down against the pound and down against the yen, with EUR/GBP trading down 0.06% at 0.8113, and EUR/JPY trading down 0.13% at 107.62.
Later Thursday aside from the ECB meeting and decision on interest rates, Germany is to publish official data on factory orders, a leading indicator of production.
The U.S. is to publish the weekly government report on initial jobless claims.