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RTTN:Euro Rises As European Stocks Gain
 
The euro was broadly higher against most major currencies in European deals on Tuesday, as European stocks advanced after Easter break.

Positive earnings report and optimism over the U.S. economic recovery lifted investor mood in Asia.

U.S. Vice President Joe Biden met Ukraine's new pro-Western leaders on Tuesday and backed America's support to the government. Biden told that the U.S. is willing to help the Ukrainian economy, while accusing Russian authorities to fulfill the accord reached in Geneva.

In economic news, Eurozone construction output growth eased sharply in February, data from Eurostat showed today.

Construction output grew only 0.1 percent from January, when it was up by 1.6 percent. The decline was driven by a 0.4 percent fall in building construction, while civil engineering advanced 1.1 percent.

After falling to near 2-week low of 1.3784 against the greenback in early deals, the euro bounced off to 1.3810. At yesterday's close, the pair was worth 1.3892.

The euro reached 1.2210 against the franc, its highest since April 7. The next likely upside target for the euro lies around the 1.225 zone. The pair was worth 1.2204 when it closed deals on Monday.

The euro reversed from an early 5-day low of 141.20 against the yen, climbing back to 141.62. The pair ended Monday's deals at 141.50.

The euro edged up to 1.5224 against the Canadian dollar from an early of 1.5180. The next likely upside target for the euro surrounds around the 1.534 mark.

The euro rebounded to 1.4765 against the aussie and 1.6089 against the kiwi, off early multi-day lows of 1.4718 and 1.6044, respectively. The euro finished yesterday's deals at 1.4783 against the aussie and 1.6091 against the kiwi.

At 8:30 am ET, Canada wholesale sales data for February is due.

The U.S. house price index for February and existing home sales for March are set for release in the New York session.

Eurozone flash consumer confidence index for April is slated for release at 10:00 am ET.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com
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