Euro Retreats After Positive Reports from the United States

Initially, it looked like the euro is going to extend its gains through the Tuesday’s trading session with the help of macroeconomic data from Europe. Yet the currency retreated after the release of US reports that were good as well.

The shared 19-nation currency was rising for the first part of the session as European economic indicators were mostly good. The currency attempted to hold ground even the first economic release from the USA but failed due to other reports that were also favorable to the dollar.

The euro’s decline was limited for the most part. The notable exceptions were the big losses against the Swiss franc and the Canadian dollar. At the same time, the euro managed to gain on the extremely weak Great Britain pound.

EUR/USD slipped from 1.0944 to 1.0922 as of 20:06 GMT today following the earlier rally to 1.1029. EUR/CAD tumbled from 1.3703 to 1.3651. Meanwhile, EUR/GBP advanced from 0.7317 to 0.7356.

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