The euro fell on Tuesday as traders looked beyond an endless stream of headlines indicating progress in Greek debt talks while the dollar gained traction from solid U.S. housing data.
In Asia, a survey on Chinese manufacturing showed that factory activity maybe stabilizing but not stopped contracting, undermining commodity currencies. The common currency dropped 0.6 percent in Asia to trade at $1.1268, falling more than a full cent from Monday’s high of $1.14105.
Despite more optimism on Greece in global equity markets and elsewhere, a cautious mood prevailed in the currency market as a deal remains elusive and as the euro zone’s economic outlook pales in comparison to others.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015