Euro Strengthens Slightly Against Swiss Franc, Declines Versus Other Majors, Monday, July 23, 2007 5:32:44 AM
During the early European session on Monday, the Euro strengthened slightly versus the Swiss Franc, but it declined against the rest of majors. This came despite a lack of data from the European economy during the session.However, in the previous session, the Euro showed a choppy trend versus the dollar, but it drifted down against the other majors.
The British Rightmove house prices data for July released at 7:01 pm ET on Sunday is likely to have an effect on trading in the Euro against the Sterling. According to the latest Rightmove survey results, the UK house prices rose slower in July.
No major key economic data is expected from the U.S. economy during the North American session of the day.
The European currency showed choppy trading versus the U.S. dollar during the Asian deals on Monday. At about 1:15 am Eastern Time, the Euro advanced slightly but it lost ground within an hour. The Euro extended its downtrend in the European session and traded at 1.3815 as of 5:30 am ET.
Against the Japanese Yen, the Euro ticked down during the early Asian session on Monday. The pair gained slightly at 9:30 pm Eastern Time Sunday, but it slipped soon after. The Euro touched the 12-day low of 167.08 at 3:30 am ET and then traded slightly higher. As of 5:30 am ET, the pair was quoted at 167.39.
In the early Asian deals on Monday, the Euro trended lower versus the U.K.`s Sterling. However, at about 10:45 pm ET Sunday, the pair gained a few pips and then traded sideways. But the Euro edged lower in the early European session and collected 0.6715 as of 5:30 am Eastern Time.
The Euro declined against its Swiss counterpart in the early Tokyo session on Monday. After hitting as low as 1.6583 at 9:20 pm ET Sunday, the pair showed a choppy trend. However, in the early European deals, the euro strengthened slightly and as of 5:30 am Eastern Time, it was worth 1.6627.
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posted by Kalin Tasev @ 4:19 AM
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