Investing.com - The euro pulled away from almost two-week highs against the dollar on Thursday after data showed that industrial production in the euro zone fell sharply in July.
EUR/USD hit 1.3284 during European morning trade, the session low; the pair subsequently consolidated at 1.3290, shedding 0.15%.
The pair was likely to find support at 1.3243, Wednesdays low and resistance at 1.3323, the session high and an almost two-week high.
Eurostat said industrial production in the euro area fell 1.5% in July, worse than expectations for a 0.1% decline. The report said industrial production fell 2.1% compared to a year earlier, more than forecasts for a 0.1% decline.
The weak data reinforced concerns over the economic outlook for the euro zone. Last week, European Central Bank President Mario Draghi reiterated that bank rates will stay at current or lower levels for an extended period to help shore up the recovery.
Elsewhere, the euro was steady against the pound, with EUR/GBP dipping 0.01% to 0.8413 ahead of testimony on inflation and the economic outlook by Bank of England policymakers.
The euro was weaker against the yen, with EUR/JPY down 0.54% to 132.25.
Investors were awaiting a speech by Mario Draghi later in the session, and the U.S. was to release data on jobless claims.
EUR/USD hit 1.3284 during European morning trade, the session low; the pair subsequently consolidated at 1.3290, shedding 0.15%.
The pair was likely to find support at 1.3243, Wednesdays low and resistance at 1.3323, the session high and an almost two-week high.
Eurostat said industrial production in the euro area fell 1.5% in July, worse than expectations for a 0.1% decline. The report said industrial production fell 2.1% compared to a year earlier, more than forecasts for a 0.1% decline.
The weak data reinforced concerns over the economic outlook for the euro zone. Last week, European Central Bank President Mario Draghi reiterated that bank rates will stay at current or lower levels for an extended period to help shore up the recovery.
Elsewhere, the euro was steady against the pound, with EUR/GBP dipping 0.01% to 0.8413 ahead of testimony on inflation and the economic outlook by Bank of England policymakers.
The euro was weaker against the yen, with EUR/JPY down 0.54% to 132.25.
Investors were awaiting a speech by Mario Draghi later in the session, and the U.S. was to release data on jobless claims.