Investing.com - The euro was higher against the greenback Friday, as bullish European industrial production numbers hit the wire, counteracting the lingering debt worries.
EUR/USD hit 1.2973 during euro zone hours, adding 0.35%
The pair was likely to find support at 1.2826, Thursday's low and resistance at 1.3072, the high of October 5.
Government data earlier indicated industrial production in the euro zone rose unexpectedly in August, rising 0.6% after an increase of 0.6% the previous month.
Analysts had expected industrial production to fall by 0.4% in August.
However, worries over the worsening of the euro zone's debt crisis re-emerged after top economists slashed their growth forecasts for Germany on Thursday, and warned that public support for financial aid for struggling countries was evaporating.
Leading economic research institutes said they now expect gross domestic to increase by only 1% in 2013 instead of 2% in the currency bloc's largest economy, adding that the region's financial woes are hurting business spending on new equipment and production facilities, a key component of growth.
Elsewhere, the euro was higher against the pound with EUR/GBP adding 0.28%, to hit 0.8080.
Later in the session, the U.S. was to produce official data on producer price inflation. In addition, the University of Michigan was to release preliminary data on consumer sentiment.
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Forex - EUR/USD eases higher on industrial production numbers
Published 10/12/2012, 07:26 AM
Updated 10/12/2012, 07:29 AM
Forex - EUR/USD eases higher on industrial production numbers
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