Investing.com - The euro eased off near two-hear highs against the dollar on Friday after a widely-watched barometer of German business confidence came in weaker than expected.
In U.S. trading on Friday, EUR/USD was down 0.03% at 1.3798, up from a session low of 1.3775 and off from a high of 1.3833.
The pair was likely to find support at 1.3652, Monday's low, and resistance at 1.3858, the high from Nov. 9, 2011.
In the euro zone earlier, the Ifo Institute for Economic Research reported that Germany's business climate index fell to 107.4 in October from 107.7 in September, defying expectations for a rise to 108.0.
The data sent investors selling the euro for profits though weak indicators in the U.S. softened the dollar and cushioned the euro's losses.
The Thomson Reuters/University of Michigan final consumer sentiment index for October fell to 73.2 from 75.2 in September, worse than expectations for a downtick to 75.0.
The report added that inflation expectations ticked up to 3.0% in October, from 2.9% the previous month.
The data came after the Census Bureau said that U.S. core durable goods orders, which exclude transportation items, fell 0.1% in September, confounding expectations for a 0.5% rise after a 0.1% decline the previous month.
Broad U.S. durable goods orders rose 3.7% last month, exceeding expectations for a 2.0% increase after a 0.1% rise in August.
The latest lackluster data out of the U.S. kept expectations going for the Federal Reserve to continue stimulating the economy with its USD85 billion in monthly bond purchases that drive down interest rates to spur recovery, weakening the greenback in the process.
The euro was up against the pound and up against the yen, with EUR/GBP trading up 0.21% at 0.8536 and EUR/JPY trading up 0.17% at 134.49.
In U.S. trading on Friday, EUR/USD was down 0.03% at 1.3798, up from a session low of 1.3775 and off from a high of 1.3833.
The pair was likely to find support at 1.3652, Monday's low, and resistance at 1.3858, the high from Nov. 9, 2011.
In the euro zone earlier, the Ifo Institute for Economic Research reported that Germany's business climate index fell to 107.4 in October from 107.7 in September, defying expectations for a rise to 108.0.
The data sent investors selling the euro for profits though weak indicators in the U.S. softened the dollar and cushioned the euro's losses.
The Thomson Reuters/University of Michigan final consumer sentiment index for October fell to 73.2 from 75.2 in September, worse than expectations for a downtick to 75.0.
The report added that inflation expectations ticked up to 3.0% in October, from 2.9% the previous month.
The data came after the Census Bureau said that U.S. core durable goods orders, which exclude transportation items, fell 0.1% in September, confounding expectations for a 0.5% rise after a 0.1% decline the previous month.
Broad U.S. durable goods orders rose 3.7% last month, exceeding expectations for a 2.0% increase after a 0.1% rise in August.
The latest lackluster data out of the U.S. kept expectations going for the Federal Reserve to continue stimulating the economy with its USD85 billion in monthly bond purchases that drive down interest rates to spur recovery, weakening the greenback in the process.
The euro was up against the pound and up against the yen, with EUR/GBP trading up 0.21% at 0.8536 and EUR/JPY trading up 0.17% at 134.49.