Investing.com - The euro extended gains against the U.S. dollar on Friday, after the release of positive U.S. personal income and expenditure, while U.S. budget concerns and uncertainty over the future of the Federal Reserve's stimulus program persisted.
EUR/USD hit 1.3556 during European afternoon trade, the pair's highest since September 19; the pair subsequently consolidated at 1.3542, climbing 0.40%.
The pair was likely to find support at 1.3462, the low of September 25 and resistance at 1.3568, the high of September 19 and a seven-month high.
Official data showed that U.S. personal spending rose 0.3% in August, in line with expectations, after an upwardly revised 0.2% increase the previous month.
Data also showed that personal income in the U.S. rose 0.4% last month, as expected, after an upwardly revised 0.2% gain in July.
A separate report showed that core personal consumption expenditures, excluding food and energy, rose 0.2% in August, more than the expected 0.1% gain, after a 0.1% increase in July.
The data came amid ongoing uncertainty over whether the Fed will soon begin taperints bond-buying program. Three top Fed officials said on Thursday the central bank had confused markets over its policy outlook.
Separately, U.S. budget concerns persisted after Republican leaders in the U.S. House of Representatives refused on Thursday to give in to President Barack Obama's demand for straightforward bills to run the government beyond September 30 and to increase borrowing authority to avoid a default.
Congress must reach an agreement on the budged debate before October 1 to prevent a government shutdown that could involve federal employees facing unpaid temporary leave and a delay in the payment of military personnel.
In the euro zone, preliminary data earlier showed that German consumer price inflation was flat in September, in line with market expectations.
The euro was steady against the pound with EUR/GBP inching up 0.04%, to hit 0.8412.
The pound found support after Bank of England Governor Mark Carney said to the Yorkshire Post that he sees no need for more bond-buying given the signs of recovery in the U.K. economy.
Earlier Friday, industry data showed that U.K. house price inflation rose 0.9% this month, exceeding expectations for a 0.5% gain, after an upwardly revised 0.7% rise in August.
Later in the day, the U.S. was to release revised data on consumer sentiment and inflation expectations from the University of Michigan.
EUR/USD hit 1.3556 during European afternoon trade, the pair's highest since September 19; the pair subsequently consolidated at 1.3542, climbing 0.40%.
The pair was likely to find support at 1.3462, the low of September 25 and resistance at 1.3568, the high of September 19 and a seven-month high.
Official data showed that U.S. personal spending rose 0.3% in August, in line with expectations, after an upwardly revised 0.2% increase the previous month.
Data also showed that personal income in the U.S. rose 0.4% last month, as expected, after an upwardly revised 0.2% gain in July.
A separate report showed that core personal consumption expenditures, excluding food and energy, rose 0.2% in August, more than the expected 0.1% gain, after a 0.1% increase in July.
The data came amid ongoing uncertainty over whether the Fed will soon begin taperints bond-buying program. Three top Fed officials said on Thursday the central bank had confused markets over its policy outlook.
Separately, U.S. budget concerns persisted after Republican leaders in the U.S. House of Representatives refused on Thursday to give in to President Barack Obama's demand for straightforward bills to run the government beyond September 30 and to increase borrowing authority to avoid a default.
Congress must reach an agreement on the budged debate before October 1 to prevent a government shutdown that could involve federal employees facing unpaid temporary leave and a delay in the payment of military personnel.
In the euro zone, preliminary data earlier showed that German consumer price inflation was flat in September, in line with market expectations.
The euro was steady against the pound with EUR/GBP inching up 0.04%, to hit 0.8412.
The pound found support after Bank of England Governor Mark Carney said to the Yorkshire Post that he sees no need for more bond-buying given the signs of recovery in the U.K. economy.
Earlier Friday, industry data showed that U.K. house price inflation rose 0.9% this month, exceeding expectations for a 0.5% gain, after an upwardly revised 0.7% rise in August.
Later in the day, the U.S. was to release revised data on consumer sentiment and inflation expectations from the University of Michigan.