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Euro rebounds against dollar as crude slides and data disappoints

EUR/USD was a few pips below 1.1250, after a rebound from a 17-month low near 1.1160.

Reported · Written up by our desk · Major Pairs

The euro gained slightly versus the US dollar on Tuesday, with EUR/USD trading a few pips below 1.1250, extending a rebound from a 17-month low around 1.1160 hit on Monday, according to FXStreet.

FXStreet said Eurozone data disappointment weighed on the single currency, but a broader US dollar pullback and further declines in crude oil helped limit losses.

Eurostat data showed Eurozone retail sales rose 0.1% in August after a 0.6% contraction in July, missing expectations for a 0.2% gain, while year over year retail consumption increased 0.8% versus the prior 0.4% reading but also fell below the 1.0% forecast.

Separate figures from Destatis indicated German factory orders fell 10.6% in August after rising 3.2% in July, and FXStreet noted the report pointed to a sharp drop in transport equipment sales, including aircraft, ships, trains, and military vehicles.

Latest closeWTI crude $91.10 ▲3.2%|EUR/USD 1.122 ▼0.3%

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