(RTTNews) - During early deals on Monday, the euro edged up against its U.S. and Japanese counterparts on encouraging economic reports from Europe. The euro jumped to a 2-week high against the dollar.
On the other hand, the euro plummeted to a new multi-week low against the pound and pared its Asian session gains against the Swiss franc.
Germany's trade surplus increased to EUR 10.6 billion in September from EUR 8.1 billion in August, the Federal Statistical Office reported today. However, the surplus stood below the expected level of EUR 11.2 billion.
Meanwhile, a survey data released by the Bank of France showed that French industrial confidence continued to rise for an eighth month in October. The sentiment indicator rose to 95 in October. Economists had forecast the index to remain unchanged at September's revised reading of 93.
In addition, the Sentix investor confidence indicator for the Eurozone rose to minus 6.97 in November from minus 12.57 in October. Among the sub-indicators, the current situation index moved to minus 24.25 from minus 29.25 and the expectations index rose to 12 from October's 5.75.
The euro, which closed last week's trading at 1.4848 against the dollar soared to a 2-week high of 1.4987 in early deals on Monday. The next upside target level for the euro-dollar pair is seen at 1.506.
The U.S. dollar and the Japanese yen edged down against their major counterparts as a rally in Asian and European stocks reduced demand for safe-haven currencies.
European shares were higher in early trade today after the Group of 20 pledged to keep the aid flowing until the recovery was assured, with banks and commodities the major gainers.
At 4:08 ET, the FTSEurofirst 300 .FTEU3 index of top European shares was up 1.2 percent at 1,004.79 points, on track for the fourth day of gains.
In early deals on Monday, the euro strengthened to 135.07 against the yen. This may be compared to Friday's close of 133.56. The near term resistance for the euro-yen pair is seen at 135.75.
The euro tumbled to a new multi-week low of 0.8899 against the pound in early deals on Monday. On the downside, 0.871 is seen as the next target level for the euro-pound pair. At Friday's close, the pair was quoted at 0.8936.
At 4:55 am ET Monday, the euro touched 1.5102 against the Swiss franc, down from an Asian session high of 1.5126. If the euro-franc pair slides further, it may likely target the 1.5092 level. The pair was worth 1.5108 at last week's close.
