Investing.com - The euro was slightly lower against the broadly stronger dollar on Thursday after data showed that the French economy unexpectedly contracted in the third quarter, while the Germany economy expanded in line with forecasts.
EUR/USD slipped 0.23% to 1.3454, down from 1.3485 on Wednesday.
The pair was likely to find support at 1.3358, Tuesday’s low and resistance at 1.3525.
Preliminary data showed that the French economy contracted by 0.1% in the three months to September, slowing from the 0.5% growth recorded in the second quarter. Economists had forecast growth of 0.1%.
Germany's economy grew by 0.3% in the third quarter, slowing from the 0.7% growth achieved in the second quarter. On a year-over-year basis, Germany’s economy grew 1.1%, beating forecasts for annual growth of 0.7%.
The wider euro zone was to release preliminary data on growth rates later in the trading day.
The euro was higher against the yen, with EUR/JPY up 0.27% to 134.18.
The yen slid against the other main currencies after data on Thursday showed that Japan’s economy grew by 0.5% in the third quarter, beating forecasts for growth of 0.4%, but the annual rate of growth slowed to 1.9%, down sharply from the 4.3% expansion in the second quarter.
Elsewhere, the dollar was close to two-month highs against the yen, with USD/JPY advancing 0.49% to 99.72.
The dollar had been lower against the yen earlier in the session following dovish comments from Federal Reserve Chairman nominee Janet Yellen.
In a statement released late Wednesday, Yellen said the job market and economy are "performing far short of their potential" and there is "more work to do" on recovery.
EUR/USD slipped 0.23% to 1.3454, down from 1.3485 on Wednesday.
The pair was likely to find support at 1.3358, Tuesday’s low and resistance at 1.3525.
Preliminary data showed that the French economy contracted by 0.1% in the three months to September, slowing from the 0.5% growth recorded in the second quarter. Economists had forecast growth of 0.1%.
Germany's economy grew by 0.3% in the third quarter, slowing from the 0.7% growth achieved in the second quarter. On a year-over-year basis, Germany’s economy grew 1.1%, beating forecasts for annual growth of 0.7%.
The wider euro zone was to release preliminary data on growth rates later in the trading day.
The euro was higher against the yen, with EUR/JPY up 0.27% to 134.18.
The yen slid against the other main currencies after data on Thursday showed that Japan’s economy grew by 0.5% in the third quarter, beating forecasts for growth of 0.4%, but the annual rate of growth slowed to 1.9%, down sharply from the 4.3% expansion in the second quarter.
Elsewhere, the dollar was close to two-month highs against the yen, with USD/JPY advancing 0.49% to 99.72.
The dollar had been lower against the yen earlier in the session following dovish comments from Federal Reserve Chairman nominee Janet Yellen.
In a statement released late Wednesday, Yellen said the job market and economy are "performing far short of their potential" and there is "more work to do" on recovery.