Monday morning in Asia, the euro plunged to multi-day lows against its US, Japanese and Swiss counterparts.
The euro also declined against the pound and eased from near a 2-week low against the Canadian dollar, 4-day high against the NZ dollar and 6-day high against the Aussie.
The euro slipped against the pound in early Asian deals on Monday. At present, the euro-pound pair is worth 0.8668, down from Friday’s close of 0.8702. The near term support for the euro is seen at 0.863, if it slides further.
During early Asian deals on Monday, the euro declined against the Japanese yen and the US dollar. Currently, the euro is trading at a 4-day low of 124.0 against the yen and 1.3210 against the dollar, compared to last week’s close of 124.78 and 1.3310, respectively. The next downside target level for the euro is seen at 122.4 against the yen and 1.312 against the dollar.
The euro weakened against the Swiss franc in early Asian deals on Monday. The euro-franc pair is currently trading at a 5-day low of 1.4326 with 1.4295 seen as the next downside target level. The pair closed closed last week’s trading at 1.4329.
The euro that strengthened to a 4-day high of 1.8410 against the NZ dollar in early Asian deals on Monday dropped thereafter. As of now, the euro-kiwi pair is worth 1.8146, compared to Friday’s close of 1.8281. If the euro falls further, it may likely target a new multi-year low of 1.800.
The euro jumped to near a 2-week high of 1.3571 against the Canadian dollar before losing ground at 5:45 pm ET Sunday. The euro-loonie pair that closed Friday’s trading at 1.3232 is presently worth 1.3454 with 1.329 seen as the next downside target level.
The euro declined against the Aussie after reaching a 6-day high of 1.4467 at 5:25 pm ET Sunday. The euro-aussie pair is currently worth 1.4294, down from Friday’s close of 1.4406. The next target level for the euro is seen at 1.423, if it drops further.
Traders are now likely to focus on the European session, in which the final manufacturing PMI reports for April from the major European economies are slated for release.
From the U.S., the personal income and spending for March, ISM manufacturing index for April and the construction spending for March are expected in the New York morning.