Investing.com - The euro edged down against its U.S. counterpart
on Friday, but was still trading near three-and-a-half month highs
as markets awaited the release of euro zone economic reports later
in the day.
EUR/USD hit 1.3335 during late Asian trade, the session low; the
pair subsequently consolidated at 1.3335, losing 0.30%.
The pair was likely to find support at 1.3267, the low of June 12
and resistance at 1.3434, the high of February 20.
The greeback gained ground against the euro after
stronger-than-forecast U.S. economic data on Thursday boosted
expectations that the Federal Reserve will unwind its asset
purchase program later this year.
The Department of Labor said the number of people who filed for
unemployment assistance in the U.S. last week fell by 12,000 to
334,000, compared to expectations for a decline of 1,000 to
Separately, the Commerce Department said U.S. retail sales rose
0.6% in May, led higher by increased automobile purchases, beating
forecasts for a 0.4% increase.
Core retail sales, which exclude auto sales, were up 0.3%, in line
The euro was steady against the pound with EUR/GPB dipping 0.05%,
to hit 0.8503.
Later in the day, the euro zone was to release official data on
consumer price inflation, while the U.S. was to publish data on
producer price inflation, industrial production, the capacity
utilization rate, the current account and preliminary data from the
University of Michigan on consumer sentiment.
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