📈 Fed's first cut since 2020: Time to buy the dip? See Tech-focused stock picksUnlock AI Picks

Forex - Euro little changed against dollar after U.S. factory data

Published 05/08/2015, 12:30 am
Updated 05/08/2015, 12:36 am
© Reuters.  Euro little changed against dollar as U.S. jobs report eyed
EUR/USD
-
USD/JPY
-
DX
-
ATGI
-

Investing.com - The euro was almost unchanged against the dollar on Tuesday after data showing that U.S. factory orders rose broadly in line with forecasts in June, as investors stayed on the sidelines ahead of Friday’s U.S. jobs report for July.

EUR/USD was last at 1.0956, holding below the day’s highs of 1.0987.

The dollar showed little reaction after the Commerce Department reported that factory orders rose 1.8% in June, in line with the consensus forecast.

Investors were looking ahead to the latest U.S. nonfarm payrolls report, due to be released on Friday. Economists are expecting that the report will show jobs growth of 215,000 last month.

Monthly jobs gains above 200,000 are seen by economists as consistent with strong employment growth.

The Federal Reserve has said a strengthening labor market is a key factor in deciding when to raise short term interest rates.

The dollar had softened following the release of disappointing U.S. economic reports on Monday.

Official figures showed that U.S. consumer spending slowed in June and a separate report indicated that manufacturing activity moderated in July.

Other data showed that U.S. construction spending rose at the slowest rate in five months in June.

In the euro zone, Athens said Tuesday that it expects to conclude a bailout deal by August 18.

The main Athens stock index fell 1.3% on Tuesday after a record 16% drop in the previous session, with banking shares, which comprise about 20% of the Greece index, hardest hit.

Trading on the Athens bourse reopened on Monday following a five week shutdown.

Elsewhere, the dollar was steady against the yen, with USD/JPY at 124.05.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at 97.58, little changed for the day.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.