Investing.com - The euro edged higher against the U.S. dollar on Friday, after the release of mixed U.S. inflation and retail sales data, as investors awaited a U.S. consumer sentiment report later in the trading session.
EUR/USD hit 1.3321 during European afternoon trade, the session high; the pair subsequently consolidated at 1.3311, edging up 0.10%.
The pair was likely to find support at 1.3244, the low of September 11 and resistance at 1.3398, the high of August 28.
Official data showed that U.S. retail sales rose 0.2% in August, disappointing expectations for a 0.4% rise, after an upwardly revised 0.4% increase the previous month.
Core retail sales, excluding automobiles, rose 0.1% last month, confounding expectations for a 0.3% gain, after an upwardly revised 0.6% increase in July.
A separate report showed that U.S. producer price inflation rose 0.3% in August, more than the expected 0.2%, after a flat reading the previous month.
Core producer price inflation, excluding food and energy, was flat last month, compared to expectations for a 0.1% rise, after a 0.1% gain in July.
The data came as investor focus was turning to the Federal Reserve's upcoming policy meeting next week, amid growing uncertainty over whether the U.S. central bank will start to unwind its USD85 billion-a-month asset purchase program.
Meanwhile, euro zone finance ministers were meeting in Vilnius, Lithuania, to discuss further reforms to strengthen the region's banking sector.
On Thursday, the European Parliament approved legislation to allow the European Central Bank to oversee banks in the 17 nation currency bloc. ECB President Mario Draghi said the vote was “a real step forward” in establishing a banking union.
The euro was lower against the pound with EUR/GBP slipping 0.23%, to hit 0.8396.
Later in the day, the University of Michigan was to release preliminary data on consumer sentiment.
EUR/USD hit 1.3321 during European afternoon trade, the session high; the pair subsequently consolidated at 1.3311, edging up 0.10%.
The pair was likely to find support at 1.3244, the low of September 11 and resistance at 1.3398, the high of August 28.
Official data showed that U.S. retail sales rose 0.2% in August, disappointing expectations for a 0.4% rise, after an upwardly revised 0.4% increase the previous month.
Core retail sales, excluding automobiles, rose 0.1% last month, confounding expectations for a 0.3% gain, after an upwardly revised 0.6% increase in July.
A separate report showed that U.S. producer price inflation rose 0.3% in August, more than the expected 0.2%, after a flat reading the previous month.
Core producer price inflation, excluding food and energy, was flat last month, compared to expectations for a 0.1% rise, after a 0.1% gain in July.
The data came as investor focus was turning to the Federal Reserve's upcoming policy meeting next week, amid growing uncertainty over whether the U.S. central bank will start to unwind its USD85 billion-a-month asset purchase program.
Meanwhile, euro zone finance ministers were meeting in Vilnius, Lithuania, to discuss further reforms to strengthen the region's banking sector.
On Thursday, the European Parliament approved legislation to allow the European Central Bank to oversee banks in the 17 nation currency bloc. ECB President Mario Draghi said the vote was “a real step forward” in establishing a banking union.
The euro was lower against the pound with EUR/GBP slipping 0.23%, to hit 0.8396.
Later in the day, the University of Michigan was to release preliminary data on consumer sentiment.