In European morning currency market trading, EUR/USD hit 1.4038, up 0.59 percent on the day.
The EU statistics agency, Eurostat, said earlier that industrial new orders rose 5.4 percent during August, up from a revised 1.8 percent in July. Analysts had expected August’s figure to come in at 2.1 percent, two major online FX trading news outlets reported.
According to EUR USD analysis, EUR/USD was likely to touch immediate support around the low of Oct. 20, 1.3698, and encounter short-term resistance around the high of Oct. 15, 1.4158.
The euro’s gain also came after a weekend meeting of global finance chiefs vowed to avoid a currency war that could derail the global economic recovery. Meanwhile, FX traders awaited a speech from the Federal Reserve chairman, Ben Bernanke, and important data on the U.S. housing market.
Elsewhere, the single currency climbed versus the yen: EUR/JPY traded at 113.12, up 0.37 percent, according to intraday analysis.