Forex Pros – The euro was up against the U.S. dollar on Tuesday, after a flurry of mixed U.S. economic data underlined market concerns that U.S. economic growth is flagging.
EUR/USD hit 1.2865 during late Asian trade, a daily high; the pair subsequently consolidated at 1.2846, gaining 0.15%.
The pair was likely to find support at 1.2733, Monday's low and resistance at 1.3186, the high of August 11.
On Monday, official data showed that the New York State manufacturing index rose less-than-expected in August.
Meanwhile, a separate report said that net foreign purchases of long-term securities rose more than expected in June.
Also Monday, industry data showed that U.S. builder confidence in the market for newly built, single-family homes declined for a second consecutive month in July, falling to its lowest level since April of 2009.
The euro was also up against the pound with EUR/GBP gaining 0.19% to hit 0.8202.
Later in the day, both Germany and the euro zone were to release key data on economic sentiment while the European Central Bank was to publish data on the regions current account.
