* Global equities rise on U.S. data, dollar firms
* Robust U.S. manufacturing, home sales data buoy sentiment
* Coming Up: April consumer data, API stocks report - Tues
(Recasts, updates prices)
By Joe Brock
LONDON, April 26 (Reuters) - Oil slipped below $85 a barrel on Monday as lingering doubts over Greece's debt crisis saw the euro weaken against the U.S. dollar, dampening oil market sentiment
The U.S. dollar <.DXY> firmed against a basket of currencies and the euro on Monday, keeping pressure on oil prices. As the dollar strengthens it makes commodities like oil more expensive for buyers holding other currencies.
European stock markets rose on Monday, limiting oil's losses, after strong housing and manufacturing data drove U.S. equity gains on Friday. [
]U.S. crude for June delivery <CLc1> fell 24 cents to $84.88 a barrel by 0941 GMT, after settling up $1.42 on Friday.
The front-month contract for London ICE Brent crude <LCOc1> slipped 17 cents to $87.08, having earlier risen to $87.65, the highest price since early October 2008.
"Brent has briefly broken above resistance at $87.58 this morning but so far has failed to remain above this level," said Christopher Bellew, oil broker at Bache Commodities.
"The strength earlier today seems to stem from stronger equities and hope that the economic recovery in the US is gaining some momentum."
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Uncertainty over proposals to curb speculation in energy markets could add to oil price volatility this week.
Some of the biggest players in U.S. energy markets have told the Commodity Futures Trading Commission (CFTC) that its plans to reduce speculation is misguided and will drive investors to overseas and unregulated markets. [
]The position limit proposal stems from the spike in oil futures prices to a record of more than $147 a barrel in 2008.
Robust economic data lifted U.S. equities on Friday, boosting expectations of a sustained recovery in the world's largest energy user.
Sales of newly built U.S. single-family homes rebounded in March to touch their highest level in eight months, as buyers rushed into the market to take advantage of a homebuyer tax credit, a government report showed. [
]New orders for durable U.S. manufactured goods, excluding transportation, also posted the largest gain in over two years in March. [
]Analysts said Friday's robust data, coupled with other reports this month that showed improving domestic demand, indicated the recovery in the world's largest economy, so far seen as moderate, was starting to take on a stronger tone.
Traders awaited cues from U.S. April consumer confidence data on Tuesday as well as the outcome of the Federal Reserve's two-day policy-setting meeting starting the same day.
Analysts widely expected the Fed to keep interest rates near zero and stick to its pledge of low borrowing costs for an extended period to foster the U.S. recovery. (Additional reporting by Jennifer Tan, Alejandro Barbajosa and Wang Tao in Singapore) (Reporting by Joe Brock; Editing by Amanda Cooper)