Investing.com - The euro erased losses against the U.S. dollar on Friday, to trade near a two-week high after the release of mixed U.S. economic reports weighed on demand for the greenback.
EUR/USD pulled away from 1.2901, the session low, to hit 1.2995 during European afternoon trade, climbing 0.48%.
The pair was likely to find support at 1.2901, the day's low and resistance at 1.3107, the high of March 15.
In a report, the U.S. Bureau of Labor Statistics said the economy added 88,000 jobs in March, far less than the expected 200,000 increase, after 268,000 jobs were created the previous month.
The private sector added 95,000 jobs last month, after an increase of 254,000 in February, compared to expectations for a 209,000 rise.
The report also showed that the U.S. unemployment rate ticked down to 7.6% in March, from 7.7% the previous month. Analysts had expected the unemployment rate to remain unchanged last month.
Separately, official data showed that the U.S. trade deficit narrowed unexpectedly in February, improving to USD43 billion from a deficit of USD44.5 billion the previous month. Analysts had expected the trade deficit to widen to USD44.6 billion in February.
Meanwhile, euro zone concerns persisted after official data showed that the bloc's gross domestic product contracted by 0.6% in the fourth quarter, in line with expectations.
A separate report showed that retail sales in the euro zone fell 0.3% in February, more than the expected 0.2% decline, after a 0.9% rise the previous month.
The euro was also higher against the pound with EUR/GBP adding 0.11%, to hit 0.8499.
Also Friday, data showed that house prices in the U.K. rose 0.2% in March, in line with expectations, after a 0.5% increase the previous month.
EUR/USD pulled away from 1.2901, the session low, to hit 1.2995 during European afternoon trade, climbing 0.48%.
The pair was likely to find support at 1.2901, the day's low and resistance at 1.3107, the high of March 15.
In a report, the U.S. Bureau of Labor Statistics said the economy added 88,000 jobs in March, far less than the expected 200,000 increase, after 268,000 jobs were created the previous month.
The private sector added 95,000 jobs last month, after an increase of 254,000 in February, compared to expectations for a 209,000 rise.
The report also showed that the U.S. unemployment rate ticked down to 7.6% in March, from 7.7% the previous month. Analysts had expected the unemployment rate to remain unchanged last month.
Separately, official data showed that the U.S. trade deficit narrowed unexpectedly in February, improving to USD43 billion from a deficit of USD44.5 billion the previous month. Analysts had expected the trade deficit to widen to USD44.6 billion in February.
Meanwhile, euro zone concerns persisted after official data showed that the bloc's gross domestic product contracted by 0.6% in the fourth quarter, in line with expectations.
A separate report showed that retail sales in the euro zone fell 0.3% in February, more than the expected 0.2% decline, after a 0.9% rise the previous month.
The euro was also higher against the pound with EUR/GBP adding 0.11%, to hit 0.8499.
Also Friday, data showed that house prices in the U.K. rose 0.2% in March, in line with expectations, after a 0.5% increase the previous month.