Investing.com - The euro came off session highs against the U.S. dollar on Thursday, after robust U.S. durables data and encouraging employment data dampened expectations for further easing by the Federal Reserve.
EUR/USD pulled back from 1.3022, the pair’s highest since October 23, to hit 1.2982 during European afternoon trade, up 0.08% for the day.
The pair was likely to find support at 1.2919, Wednesday’s low and resistance at 1.3074, Tuesday’s high.
Official data showed that U.S. durable goods orders rebounded from the previous month’s sharp drop in September, hitting the highest level since January 2010, while core orders rose more-than-expected.
The Commerce Department said total durable goods orders, which include transportation items, jumped by a seasonally adjusted 9.9% in September, compared to expectations for a 7.1% gain.
Durable goods for August were revised to a 13.1% drop from a previously reported decline of 13.2%.
Core durable goods orders, excluding volatile transportation items, rose by a seasonally adjusted 2.0% last month, beating expectations for a 0.8% gain.
Separately, the Labor Department said the number of people who filed for unemployment assistance in the U.S. last week fell to 369,000, from 392,000 the previous week, compared to expectations for a decrease to 370,000.
The previous week’s figure was revised up to 392,000 from a previously reported 388,000.
The data came one day after the Federal Reserve said the U.S. economy is improving moderately, but added job growth has been slow and the unemployment rate remains elevated.
The central bank also said it planned to keep its benchmark short-term rate close to zero through mid-2015.
Meanwhile, investors awaited any indication that Spain is moving closer to formally requesting a bailout from its euro zone partners and activating the European Central Bank’s bond purchasing plan.
The euro was lower against the pound, with EUR/GBP shedding 0.52% to trade at 0.8046, but remained higher against the yen, with EUR/JPY up 0.56% to 104.10.
The pound remained well supported after official data showed that the U.K. economy expanded by 1.0% in the three months to September, pulling out of the longest double dip recession since 1955 and outstripping expectations for a 0.6% gain.
EUR/USD pulled back from 1.3022, the pair’s highest since October 23, to hit 1.2982 during European afternoon trade, up 0.08% for the day.
The pair was likely to find support at 1.2919, Wednesday’s low and resistance at 1.3074, Tuesday’s high.
Official data showed that U.S. durable goods orders rebounded from the previous month’s sharp drop in September, hitting the highest level since January 2010, while core orders rose more-than-expected.
The Commerce Department said total durable goods orders, which include transportation items, jumped by a seasonally adjusted 9.9% in September, compared to expectations for a 7.1% gain.
Durable goods for August were revised to a 13.1% drop from a previously reported decline of 13.2%.
Core durable goods orders, excluding volatile transportation items, rose by a seasonally adjusted 2.0% last month, beating expectations for a 0.8% gain.
Separately, the Labor Department said the number of people who filed for unemployment assistance in the U.S. last week fell to 369,000, from 392,000 the previous week, compared to expectations for a decrease to 370,000.
The previous week’s figure was revised up to 392,000 from a previously reported 388,000.
The data came one day after the Federal Reserve said the U.S. economy is improving moderately, but added job growth has been slow and the unemployment rate remains elevated.
The central bank also said it planned to keep its benchmark short-term rate close to zero through mid-2015.
Meanwhile, investors awaited any indication that Spain is moving closer to formally requesting a bailout from its euro zone partners and activating the European Central Bank’s bond purchasing plan.
The euro was lower against the pound, with EUR/GBP shedding 0.52% to trade at 0.8046, but remained higher against the yen, with EUR/JPY up 0.56% to 104.10.
The pound remained well supported after official data showed that the U.K. economy expanded by 1.0% in the three months to September, pulling out of the longest double dip recession since 1955 and outstripping expectations for a 0.6% gain.