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Forex - EUR/USD little changed, hovers near one-month highs


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Investing.com - The euro was little changed against the U.S. dollar in thin trade on Friday, trading close to one-month highs as positive economic reports out of the euro zone continued to support demand for the single currency.

EUR/USD hit 1.3564 during U.S. morning trade, the session low; the pair subsequently consolidated at 1.3601, inching down 0.03%.

The pair was likely to find support at 1.3558, the low of November 27 and resistance at 1.3682, the high of October 17.

Preliminary data earlier showed that the annual rate of inflation in the euro zone rose to 0.9% in November, from October's four year low of 0.7%, exceeding expectations for a rise to 0.8%.

A separate report showed that the unemployment rate in the single currency bloc ticked down to 12.1% last month, from 12.2% in September. Analysts had expected the unemployment rate to remain unchanged in October.

The data came after a report showed that German retail sales fell 0.8% last month, confounding expectations for a 0.5% rise, after a 0.2% slip in September.

In France, consumer spending ticked down 0.2% in October, disappointing expectations for a 0.2% rise, after a 0.1% fall the previous month.

The euro was higher against the pound, with EUR/GBP adding 0.08% to hit 0.8330.

Also Friday, data showed that net lending to individuals in the U.K. rose by GBP1.7 billion in October, after an upwardly revised GBP2.2 billion increase the previous month, compared to expectations for a GBP2.1 billion rise.


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This article appears in: Investing , Forex and Currencies



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