USD claws back losses vs euro

The single currency capped its gains from last week against the greenback yesterday, closing the day marginally down at 1.4302.

• The greenback clawed back losses against the single currency yesterday as investors took profits from four days of gains following a raft of positive economic data emerging from the eurozone.
  
• Having initially fallen in early trading, the single currency pared some of its losses against the greenback on Monday after eurozone industrial orders came in much higher than expected.
  
• Eurozone industrial orders rose 3.1% in June from the previous month, up much more than the 1.5% gain that had been forecast.
  
• In trading this morning, the dollar has continued to recover its losses following a lacklustre day on Wall Street that dulled risk sentiment.
  
• The Standard & Poor’s Case/Shiller report on US house prices for June is due for release at 14:00BST, as is a report on US consumer confidence an hour later. Both will be watched for clues about the economic recovery.