In early European deals on Monday, the euro showed mixed trading against its major counterparts. While the euro spiked up to a new multi-month high against the yen, it edged down against the pound. Meanwhile, the euro eased from a 10-day high against the dollar and the franc.

The Euro-zone sentix investor confidence for April, retail sales and the PPI reports for February, which were released today likely influenced the euro.

The Sentix investor confidence for the euro area improved to minus 35.26 in April from minus 42.67 recorded in March. Economists had expected a reading of minus 40.4 for April.

Euro zone retail sales volume dropped 0.6% in February from January, a report from the Eurostat showed. Economists were expecting retail sales to drop 0.4% in February after rising 0.1% in January. Year-on-year, retail sales slipped 4%, larger than the 1.7% decrease seen in January and 2.5% decline expected by economists.

Euro zone's producer price index dropped 1.8% year-over-year in February, after falling 0.7% in January. Economists were looking a decline of 1.5%. On a monthly basis, producer prices declined 0.5% in February, compared with a revised 1.1% in the previous month.

The euro, which closed last week's trading at 135.27 against the yen rose to 137.44 during early deals on Monday. This set the highest point for the euro since October 20, 2008. On the upside, 140 is seen as the next target level for the European currency.

The Japanese government intends to compile a new stimulus package worth 2% or more of gross domestic product, Finance Minister Kaoru Yosano told reporters after meeting Prime Minister Taro Aso today. Accordingly, new fiscal spending would exceed 10 trillion yen. Details of the third package are likely to be finalized by April 10.

During early deals on Monday, the euro slipped to 0.9055 against the pound. The next downside target level for the euro-pound pair is seen at 0.9043. The pair was worth 0.9092 at Friday's close.

The euro declined against the dollar after surging to a 10-day high of 1.3583 at 9:30 pm ET Sunday. As of now, the euro-dollar pair is worth 1.3520, compared to last week's close of 1.3492. If the pair weakens further, it may test support around the 1.342 level.

The euro jumped to a 10-day high of 1.5303 against the Swiss franc at 3:35 am ET Monday. Thereafter, the euro eased and the pair is currently quoted at 1.5273 with 1.521 seen as the next likely target. At last week's close, the euro-franc pair was quoted at 1.5247.

Traders are now likely to focus on the North American session, in which the Federal Reserve Governor Kevin Warsh is due to speak on Financial Markets in Washington at 1:00 pm ET.

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