Investing.com - The euro traded lower against the dollar on Friday even after U.S. housing data and consumer sentiment data missed many expectations, as investors traded on sentiments the U.S. economy is still improving and the Federal Reserve remains on track to dismantling stimulus programs in the near future.
In U.S. trading on Friday, EUR/USD was down 0.18% at 1.3321, up from a session low of 1.3318 and off from a high of 1.3380.
The pair was likely to find support at 1.3205, Thursday's low, and resistance at 1.3399, the high from Aug. 8.
The Commerce Department reported earlier that U.S. building permits rose 2.7% to 943,000 units in July, disappointing expectations for an increase of 2.9% to 945,000 units although June's figure was revised up to 918,000 units from 911,000.
The government added that housing starts rose 5.9% to 896,000 units in July, missing expectations for a 8.3% increase to 900,000 units. Still, June's figure was revised up to 846,000 units from 836,000.
Elsewhere, the Thomson Reuters/University of Michigan's preliminary consumer sentiment index fell to 80.0 in August from 85.1 in July. Analysts were expecting the index to rise to 85.5 this month.
Not all U.S. data missed expectations.
The Bureau of Labor Statistics said in a preliminary report that nonfarm productivity rose 0.9% in the second quarter, beating expectations for a 0.6% gain after a 1.7% decline in the previous quarter.
The day's data, while mixed, still painted a picture of an economy that is improving and will soon no longer require support from Federal Reserve stimulus measures.
Fed stimulus tools such as the U.S. central bank's USD85 billion in monthly asset purchases weaken the greenback by driving down long-term interest rates, and talk of their dismantling can strengthen the greenback.
Meanwhile in the euro zone, consumer price inflation remained unchanged at 1.6% in July from a year ago, in line with expectations.
The bloc's core consumer price inflation, which excludes food, energy, alcohol, and tobacco, rose 1.1% on year in July, also in line with expectations.
Separately, the European Central Bank said the current account surplus narrowed to EUR16.9 billion in June from a EUR19.5 billion surplus the previous month.
Analysts were expected the current account surplus to narrow to EUR19.0 billion in June.
The euro, meanwhile, was down against the pound and up against the yen, with EUR/GBP trading down 0.06% at 0.8532 and EUR/JPY trading up 0.12% at 130.12.
In U.S. trading on Friday, EUR/USD was down 0.18% at 1.3321, up from a session low of 1.3318 and off from a high of 1.3380.
The pair was likely to find support at 1.3205, Thursday's low, and resistance at 1.3399, the high from Aug. 8.
The Commerce Department reported earlier that U.S. building permits rose 2.7% to 943,000 units in July, disappointing expectations for an increase of 2.9% to 945,000 units although June's figure was revised up to 918,000 units from 911,000.
The government added that housing starts rose 5.9% to 896,000 units in July, missing expectations for a 8.3% increase to 900,000 units. Still, June's figure was revised up to 846,000 units from 836,000.
Elsewhere, the Thomson Reuters/University of Michigan's preliminary consumer sentiment index fell to 80.0 in August from 85.1 in July. Analysts were expecting the index to rise to 85.5 this month.
Not all U.S. data missed expectations.
The Bureau of Labor Statistics said in a preliminary report that nonfarm productivity rose 0.9% in the second quarter, beating expectations for a 0.6% gain after a 1.7% decline in the previous quarter.
The day's data, while mixed, still painted a picture of an economy that is improving and will soon no longer require support from Federal Reserve stimulus measures.
Fed stimulus tools such as the U.S. central bank's USD85 billion in monthly asset purchases weaken the greenback by driving down long-term interest rates, and talk of their dismantling can strengthen the greenback.
Meanwhile in the euro zone, consumer price inflation remained unchanged at 1.6% in July from a year ago, in line with expectations.
The bloc's core consumer price inflation, which excludes food, energy, alcohol, and tobacco, rose 1.1% on year in July, also in line with expectations.
Separately, the European Central Bank said the current account surplus narrowed to EUR16.9 billion in June from a EUR19.5 billion surplus the previous month.
Analysts were expected the current account surplus to narrow to EUR19.0 billion in June.
The euro, meanwhile, was down against the pound and up against the yen, with EUR/GBP trading down 0.06% at 0.8532 and EUR/JPY trading up 0.12% at 130.12.