Investing.com - The euro pushed lower against the U.S. dollar on Friday, dropping to a three-week low after the release of upbeat U.S. employment data boosted demand for the greenback, while euro zone debt concerns continued to weigh on the single currency.
EUR/USD hit 1.2848 during European afternoon trade, the pair's lowest since October 11; the pair subsequently consolidated at 1.2858, dropping 0.65%.
The pair was likely to find support at 1.2804, the low of October 1 and resistance at 1.2951, the session high.
The Bureau of Labor Statistics said that the U.S. economy added 171,000 jobs in October, far more than the expected 125,000 increase.
The previous month's figure was revised up from 114,000 to 148,000.
The report also showed that the U.S. unemployment rate ticked up to 7.9% last month from 7.8% in September, in line with expectations.
Meanwhile, the euro remained under pressure after Markit research group earlier said that Spain's manufacturing purchasing managers' index fell more-than-expected in October, ticking down to 43.5 from a reading 0f 44.6 the previous month.
Analysts had expected the manufacturing PMI to fall to 44.0 in October.
Separately, Italy's manufacturing PMI fell to 45.50 last month, from 45.70 in September, disappointing expectations for a reading of 45.90.
The single currency was steady against the pound with EUR/GBP dipping 0.06%, to hit 0.8019.
Also Friday, Markit said that the U.K. construction PMI improved to 50.9 in October from a reading of 49.5 the previous month.
Analysts had expected the construction PMI to fall to 49.1 in October.
EUR/USD hit 1.2848 during European afternoon trade, the pair's lowest since October 11; the pair subsequently consolidated at 1.2858, dropping 0.65%.
The pair was likely to find support at 1.2804, the low of October 1 and resistance at 1.2951, the session high.
The Bureau of Labor Statistics said that the U.S. economy added 171,000 jobs in October, far more than the expected 125,000 increase.
The previous month's figure was revised up from 114,000 to 148,000.
The report also showed that the U.S. unemployment rate ticked up to 7.9% last month from 7.8% in September, in line with expectations.
Meanwhile, the euro remained under pressure after Markit research group earlier said that Spain's manufacturing purchasing managers' index fell more-than-expected in October, ticking down to 43.5 from a reading 0f 44.6 the previous month.
Analysts had expected the manufacturing PMI to fall to 44.0 in October.
Separately, Italy's manufacturing PMI fell to 45.50 last month, from 45.70 in September, disappointing expectations for a reading of 45.90.
The single currency was steady against the pound with EUR/GBP dipping 0.06%, to hit 0.8019.
Also Friday, Markit said that the U.K. construction PMI improved to 50.9 in October from a reading of 49.5 the previous month.
Analysts had expected the construction PMI to fall to 49.1 in October.