The euro slipped against the dollar and yen on Tuesday, undermined by German sentiment data that was slightly below expectations and comments from European Central Bank officials saying they were prepared to do more to support the region’s fragile recovery.
The data on Europe’s biggest economy came a day after ECB President Mario Draghi said the bank was ready to provide more long-term loans to keep money-market rates from rising. Data from the Ifo think tank on Tuesday showed that German business morale improved slightly in September to touch a 17-month high, but the index fell short of the consensus forecast.
The euro was flat under $1.35. Support was cited at the August high of $1.3453. Large options expiries were reported at $1.3500 and $1.3200.
This article 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 Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
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