Investing.com - The euro pulled back from two-and-a-half year
highs against the dollar on Friday after data showed that the
latest U.S. jobs report for February came in ahead of
EUR/USD ended Friday's session at 1.3877, 0.12% higher for the
day. Earlier in the session, the pair rose as high as 1.3915, the
strongest level since late October 2011. For the week, the pair
The U.S. economy added 175,000 jobs in February, the Labor
Department reported, well above expectations for 149,000 new jobs.
The unemployment rate ticked up to 6.7% from 6.6% in January, as
more people joined the workforce.
The jobs report eased concerns over soft U.S. employment and
other economic data seen in the past few months. The strong figure
indicated that the Federal Reserve is likely to continue to scale
back its stimulus program, which has weighed on the value of the
The common currency rose to its highest level in two-and-half
years against the dollar earlier after a report from the European
Central Bank showed that banks in the euro area are set to repay a
large portion of its emergency three-year loans next week.
The euro built on strong gains from Thursday, after the ECB's
decision to refrain from any policy tightening dampened
expectations for further easing by the bank.
The central bank left its benchmark interest rate unchanged at
0.5%, saying economic conditions did not support tightening.
ECB President Mario Draghi said the latest economic data
indicated that the economic recovery in the euro zone is
proceeding, and added that the bank was ready to take further
action if needed.
Elsewhere, the euro rose to two-month highs against the yen on
Friday, with EUR/JPY hitting highs of 143.79, before settling at
143.29, up 0.30%.
In the week ahead, U.S. data on retail sales and consumer
sentiment will be in focus, while Germany is to produce what will
be closely watched trade data.
Ahead of the coming week, Investing.com has compiled a list of
these and other significant events likely to affect the
Monday, March 10
In the euro zone, France is to produce data on industrial
Tuesday, March 11
Germany is to release data on the trade balance, the difference
in value between imports and exports.
Wednesday, March 12
The euro zone is to release data on industrial production.
Thursday, March 13
The ECB is to publish its monthly bulletin, which looks at
current and future economic conditions from the bank's
The U.S. is to release data on retail sales and import prices,
in addition to the weekly government report on initial jobless
Friday, March 14
The U.S. is to round up the week with data on producer price
inflation and preliminary data from the University of Michigan on
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