Investing.com - The euro hit fresh one-week highs against the U.S. dollar on Friday, after the release of disappointing U.S. consumer sentiment data, while growing U.S. budget concerns continued to dominate market sentiment.
EUR/USD hit 1.3558 during U.S. morning trade, the pair's highest since September 18; the pair subsequently consolidated at 1.6129, up 0.55%.
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.
In a revised report, the University of Michigan said its consumer sentiment index fell to 77.5 in September, from a reading of 76.8 the previous month. Analysts had expected the index to rise to 78.0 this month.
The report came after 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 Federal Reserve 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.
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 dipping 0.01%, to hit 0.8409.
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.
EUR/USD hit 1.3558 during U.S. morning trade, the pair's highest since September 18; the pair subsequently consolidated at 1.6129, up 0.55%.
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.
In a revised report, the University of Michigan said its consumer sentiment index fell to 77.5 in September, from a reading of 76.8 the previous month. Analysts had expected the index to rise to 78.0 this month.
The report came after 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 Federal Reserve 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.
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 dipping 0.01%, to hit 0.8409.
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.