Forex - EUR/USD unchanged as markets eye Italian bond sales
Investing.com
Published Dec 28, 2011 02:33AM ET
EUR/USD hit 1.3057 during late Asian trade, the daily low; the pair subsequently consolidated at 1.3065, edging down 0.03%.
The pair was likely to find support at 1.2992, the low of December 20 and resistance at 1.3118, the high of December 22.
With most investors already away on year-end leave, trading volumes were low, resulting in subdued trade.
Italy was scheduled to sell EUR9 billion euros of 179-day bills and EUR2.5 billion euros of zero-coupon 2013 securities later Wednesday. The country will also auction EUR8.5 billion euros of debt due in 2014, 2018, 2021 and 2022 on Thursday.
Ahead of the auctions, the yield on Italy’s ten-year bonds remained slightly below the 7% threshold, a level widely considered unsustainable and above which other euro zone governments had been forced to seek bailouts.
Elsewhere, the euro was fractionally higher against the U.S. dollar with EUR/GBP easing up 0.02, to hit 0.8342.
Data showed on Tuesday that U.S. consumer confidence climbed to the highest level since April, while the S&P/Case-Shiller home price index fell more-than-expected in October, declining for the 16th consecutive month.
Get The News You Want
Written By: Investing.com
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.