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Forex - Euro slips lower vs. dollar

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Investing.com - The euro slipped lower against the dollar in subdued trade on Monday as Friday's weaker-than-expected U.S. jobs report raised doubts over whether the Federal Reserve will start to pull back its asset purchase program later this year.

EUR/USD hit 1.3263 during late Asian trade, the session low; the pair subsequently consolidated at 1.3276, slipping 0.04%.

The pair was likely to find support at 1.3238, the low of July 29 and resistance at 1.3309, the high of August 1.

Official data on Friday showed that the U.S. economy added 162,000 jobs in July, less than the 184,000 increase forecast by economists. June's figure was revised down to 188,000 from a previously reported 195,000.

The unemployment rate ticked down to 7.4% from 7.6% in June, as more people left the labor force.

The euro remained under pressure after the European Central Bank reiterated last week that monetary policy will remain accommodative "for an extended period of time".

The euro was little changed against the pound with EUR/GBP dipping 0.01% to 0.8684 and was weaker against the yen, with EUR/JPY down 0.57% to 130.66.

Investors were looking ahead to the Institute for Supply Management's nonmanufacturing index later Monday as well as euro zone data on retail sales.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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