Investing.com - The euro held steady against the U.S. dollar on Friday, hovering near one-month highs after the release of higher than expected inflation data from the euro zone, as well as an upbeat unemployment report.
EUR/USD hit 1.3622 during European afternoon trade, the pair's highest since October 31; the pair subsequently consolidated at 1.3610, inching up 0.04%.
The pair was likely to find support at 1.3521, the low of November 26 and resistance at 1.3682, the high of October 17.
Preliminary data earlier showed that the annual rate of inflation in the euro zone rose to 0.9% in November, from October’s four year low of 0.7%, exceeding expectations for a rise to 0.8%.
A separate report showed that the unemployment rate in the single currency bloc ticked down to 12.1% last month, from 12.2% in September. Analysts had expected the unemployment rate to remain unchanged in October.
The data came after a report showed that German retail sales fell 0.8% last month, confounding expectations for a 0.5% rise, after a 0.2% slip in September.
In France, consumer spending ticked down 0.2% in October, disappointing expectations for a 0.2% rise, after a 0.1% fall the previous month.
The euro was fractionally higher against the pound, with EUR/GBP adding 0.09% to hit 0.8331.
Also Friday, data showed that net lending to individuals in the U.K. rose by GBP1.7 billion in October, after an upwardly revised GBP2.2 billion increase the previous month, compared to expectations for a GBP2.1 billion rise.
EUR/USD hit 1.3622 during European afternoon trade, the pair's highest since October 31; the pair subsequently consolidated at 1.3610, inching up 0.04%.
The pair was likely to find support at 1.3521, the low of November 26 and resistance at 1.3682, the high of October 17.
Preliminary data earlier showed that the annual rate of inflation in the euro zone rose to 0.9% in November, from October’s four year low of 0.7%, exceeding expectations for a rise to 0.8%.
A separate report showed that the unemployment rate in the single currency bloc ticked down to 12.1% last month, from 12.2% in September. Analysts had expected the unemployment rate to remain unchanged in October.
The data came after a report showed that German retail sales fell 0.8% last month, confounding expectations for a 0.5% rise, after a 0.2% slip in September.
In France, consumer spending ticked down 0.2% in October, disappointing expectations for a 0.2% rise, after a 0.1% fall the previous month.
The euro was fractionally higher against the pound, with EUR/GBP adding 0.09% to hit 0.8331.
Also Friday, data showed that net lending to individuals in the U.K. rose by GBP1.7 billion in October, after an upwardly revised GBP2.2 billion increase the previous month, compared to expectations for a GBP2.1 billion rise.