Session Recap: Euro recovers in quiet session

FXstreet.com (Córdoba) - The US dollar holds onto last week's gains Monday, although corrective moves were seen during the European session.

The EUR/USD managed to climb back above 1.3400 after strong US data put the pair under pressure. However, momentum was lacking and calm in the FX market is likely to persist as several European markets are closed for Armistice Day while the US is celebrating Veterans' Day.

The GBP/USD failed to sustain above 1.6000 and dropped to a low of 1.5978 while USD/JPY erased early losses and climbed back toward the 99.15 area. Elsewhere, the AUD/USD is trading down on the day at 0.9360 despite strong Australian and Chinese data. USD/CAD was a tad softer at 1.0470 after printing a high of 1.0501 Friday.

Main Headlines in Europe:

Italy Industrial Output s.a. (MoM) (September): 0.2%; -3% (YoY)

Greek coalition government withstands no-confidence motion vote

Flash: What’s the sentiment around the EUR/USD today? – Commerzbank and BTMU

Crude oil consolidates, gold declines

Portugal Global Trade Balance: €-2.66B in September from €-2.4B in August