The euro showed mixed trading in the early European session on Tuesday after the release of Eurozone PMI data in December.
Data from Markit Economics showed that Eurozone private sector growth accelerated more than expected to a 2-month high in December. The composite output index advanced to 51.7 in December, the highest reading in two months, from 51.1 in November. Economists had forecast the PMI to come in at 51.5.
The flash services Purchasing Managers' Index rose to 51.9 from 51.1 a month ago. The score was forecast to rise to 51.5. This also marked a 2-month high. The manufacturing PMI also climbed to a 5-month high of 50.8 from 50.1 in November. The reading was expected to rise to 50.5.
The euro rose against the U.S. dollar and the pound after the German PMI data, which climbed to a 2-month high in December.
Data from the same agency showed that Germany's PMI for manufacturing climbed to 51.2 in December from 49.5 in November, while it was expected to improve to 50.3.
In the Asia session, the euro held steady against the other major currencies.
In the European trading, the euro rose to more than 2-week highs of 0.7975 against the pound and 0.2497 against the U.S. dollar, from early lows of 0.7941 and 1.2433, respectively. If the euro extends its uptrend, it is likely to find resistance around 0.80 against the pound and against the U.S. dollar.
Against the Swiss franc, euro slightly fell to 1.2008 from an early high of 1.2010. On the downside, 1.200 is seen as next support level for the euro.
Pulling away from an early high of 146.7 against the euro, the yen fell to a 4-week low of 145.19. Continuation of bearish trend may lead the euro to a support around the 144.15 mark.
Looking ahead, German ZEW economic sentiment index for December and Eurozone trade balance report for October are due to be released shortly.
In the New York session, Canada manufacturing sales data for October, U.S. building permits and housing starts, both for November, and Markit's flash U.S. manufacturing PMI for December are due to be released.
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