MONEYFOREX - Euro Varied Early Friday New York Trading

Euro Varied Early Friday New York Trading

Friday, February 02, 2007 8:02:26 AM - European currency showed mixed trading early Friday. In effect, it was higher to the yen and loonie early Friday in New York. The common currency was uncertain against the greenback ahead of the US releases slated for late morning. After a brief trend higher, euro lost ground against the sterling and EUR/GBP continued lower amid the British data at 4:30 am too.

In December, industrial producer price index in the euro area remained unchanged over the prior month, as in November, but rose 4.1% from the previous year, the Eurostat said Friday. In the EU25, the industrial producer’s price index fell 0.1% reversing the 0.4% increase in the prior month and gained 3.3% year-over-year.

Amid the data, euro showed varied trading. It continued higher against yen but was lower to the Swiss currency. In the meantime, euro held steady against the Canadian dollar amid the data. The PPI numbers caused little effects on euro versus greenback and sterling too.

The European currency showed choppy trading against the greenback early Friday in New York. Pair was slightly higher at one time and it eventually collected 1.3030 by about 4:10 am and after that, it dropped those points. Around 6:30 euro made another edge higher and held steady thereafter. Pair is now ranging between 1.3020-1.3030. Several US data are approaching the market as of now.

Euro drifted higher against the British currency early Friday initially. At 3:35 am pair lost ground when it was worth 0.6627 and this came amid the British data at 4:30 am ET. Euro-zone PPI caused very little price effect for the pair and euro is moving sideways in a wide range against the GBP as of now. Pair quoted 0.6615 as of 8:00 am ET.

Euro rallied against its Japanese counterpart early Friday New York trading. Gaining ground at 157.07 as of 2:40 am pair collected 157.72 by about 7:45 am ET. Euro showed strength against the yen amid the euro-zone data at 5:00 am ET. Of late, pair shed a few pips and quoted 157.51 as of 8:00 am ET.

Off an uncertainty that lasted until about 3:30 am, euro lost ground against the Swiss Franc and pair weakened from 1.6198 to 1.6165 within three hours. After that, pair made a coming back but partially. Of late again Euro versus franc is showing uncertainty and was worth 1.6181 as of 8:00 am ET. Euro was lower to the CHF amid the euro-zone PPI data at 5:00 am ET.

Friday small morning witnessed euro rising against the Canadian dollar. The pair grew from 1.5339 to 1.5396 within a little earlier than a couple hours and after that, it moved sideways. Of late, euro edged higher and is showing uncertainty as of now. Euro traded at 1.5399 a CAD as of 8:00 am ET. EUR/CAD was uncertain amid the Dec PPI data which came out at 5:00 am ET.