Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

The euro traded steadily against the US dollar on Monday through the course of a light trade, while situation with Syria still supported demand for the greenback.

EUR/USD touched a session high at 1.3226 at 7:13 GMT. Support for the pair was to be found at July 22nd low, 1.3144, while resistance was to be encountered at August 2nd high, 1.3294.

Fears of a possible military intervention by the United States and its allies in Syria chilled to a certain extent, as the US congressional vote was expected. The Secretary of State John Kerry said on Friday that the United States would punish Syrias President Bashar al-Assad for the “brutal and flagrant” chemical weapons attack, which killed almost 1 500 people in the city of Damascus.

Meanwhile, markets awaited the manufacturing PMI data out of the Euro zone. Trading volumes were expected to remain thin today, due to closed markets in the United States for the Labor Day holiday.

The greenbacks advance was capped, however, as on Friday official data showed that the index, gauging US consumer sentiment, decreased in August, pulling back from July’s six-year high. The final values of the University of Michigans consumer confidence index slid to 82.1 in August from a reading of 85.1 a month ago.

Elsewhere, the euro was lower against the sterling, as EUR/GBP cross dropped 0.35% to trade at 0.8501 at 7:46 GMT. EUR/JPY pair, on the other hand, soared 1.15% on a daily basis to trade at 131.26 at 7:46 GMT.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: USD/JPY daily trading forecastForex Market: USD/JPY daily trading forecast Yesterday’s trade saw USD/JPY within the range of 119.77-121.39. The pair closed at 121.03, soaring 0.93% on a daily basis, or the most considerable daily gain since July 10th, when it appreciated 1.16%. The daily high has also been the […]
  • Amaya Gaming Group Inc share price surges, purchases PokerStars in a $4.9-billion dealAmaya Gaming Group Inc share price surges, purchases PokerStars in a $4.9-billion deal Toronto-listed Amaya Gaming Group has agreed to purchase Rational Group Ltd, an Isle of Man-based business which owns the worlds largest online poker site, PokerStars, for $4.9 billion in cash.Rationals Chief Executive Officer and owner of […]
  • Predicting S&P 500 using the Chocolate indicatorPredicting S&P 500 using the Chocolate indicator Hersheys, the widely known chocolate manufacturer, is not only popular with its boxes of chocolate. Among investors the chocolate giant has other important uses. For example, some analyst believe that Hersheys sales can tell you much about […]
  • Forex Market: EUR/USD daily trading forecastForex Market: EUR/USD daily trading forecast Yesterdays trade saw EUR/USD within the range of 1.0889-1.1032. The daily high has also been the highest level since March 18th, when a high of 1.1033 was recorded. The pair closed at 1.0926, down 0.18% on a daily basis, or the first loss in […]
  • Costco Gains as Investors Eye Upcoming EarningsCostco Gains as Investors Eye Upcoming Earnings Key Moments Costco Wholesale shares climbed 1.7% in pre-market trading, touching $967.50 after opening the prior session at $938.11. The company reported fiscal Q3 2026 net sales of $69.15 billion, up 11.6% year over year, with […]
  • Grain futures mixed, corn advances to 4-1/2-month high on US exports dataGrain futures mixed, corn advances to 4-1/2-month high on US exports data Grain futures were mixed on Wednesday, corn touched the strongest level in almost five months on signs demand for US supplies has increased. Meanwhile, wheat also gained, while soybeans edged lower.On the Chicago Board of Trade, corn […]