Investing.com - The euro pushed lower against the U.S. dollar on Thursday, after European Central Bank President Mario Draghi said the bank's monetary stance will remain accomodative for as long as necessary.
EUR/USD hit 1.3137 during European afternoon trade, the pair's lowest since September 3; the pair subsequently consolidated at 1.3153, shedding 0.41%.
The pair was likely to find support at 1.3090, the low of July 19 and resistance at 1.3255, the high of August 30.
In a press conference following the ECB's monthly policy meeting, Mario Draghi said the central bank's monetary policy will remain accomodative for as long as necessary and that interest rates should remain at present or lower levels for an extended period of time.
Draghi also said that downide risks, including renewed geopolitical tensions, continue to weigh on the outlook for growth. He added that euro zone countries should continue with their reform agendas and gear policies toward growth-friendly measures.
In addition, Mario Draghi said that recent growth and confidence indicators confirm gradual improvement in economic activity. The ECB revised its 2013 growth projections for the euro zone to a 0.4% contraction from a previously estimated 0.6% contraction in June.
The comments came after the ECB held its benchmark interest rate at a record-low 0.5%, in line with market expectations.
In the U.S., the Department of Labor said the number of people filing for initial jobless benefits in the week ending August 30 fell by 9,000 to a seasonally adjusted 323,000, compared to forecasts for a decline of 2,000.
The data came after an ADP report showing that 176,000 jobs were created in the U.S. private sector in August, less than the expected 180,000 increase, after a downwardly revised 198,000 rise the previous month.
The reports came as investors continued to speculate over the timing of the Federal Reserve's widely expected reduction in monthly bond purchases.
The euro was also lower against the pound with EUR/GBP retreating 0.42%, to hit 0.8416.
Also Thursday, the Bank of England held its benchmark interest rate at 0.50% and kept the size of its asset purchase program unchanged at GBP375 billion.
Later in the day, the ISM was to release data on non-manufacturing activity in the U.S.
EUR/USD hit 1.3137 during European afternoon trade, the pair's lowest since September 3; the pair subsequently consolidated at 1.3153, shedding 0.41%.
The pair was likely to find support at 1.3090, the low of July 19 and resistance at 1.3255, the high of August 30.
In a press conference following the ECB's monthly policy meeting, Mario Draghi said the central bank's monetary policy will remain accomodative for as long as necessary and that interest rates should remain at present or lower levels for an extended period of time.
Draghi also said that downide risks, including renewed geopolitical tensions, continue to weigh on the outlook for growth. He added that euro zone countries should continue with their reform agendas and gear policies toward growth-friendly measures.
In addition, Mario Draghi said that recent growth and confidence indicators confirm gradual improvement in economic activity. The ECB revised its 2013 growth projections for the euro zone to a 0.4% contraction from a previously estimated 0.6% contraction in June.
The comments came after the ECB held its benchmark interest rate at a record-low 0.5%, in line with market expectations.
In the U.S., the Department of Labor said the number of people filing for initial jobless benefits in the week ending August 30 fell by 9,000 to a seasonally adjusted 323,000, compared to forecasts for a decline of 2,000.
The data came after an ADP report showing that 176,000 jobs were created in the U.S. private sector in August, less than the expected 180,000 increase, after a downwardly revised 198,000 rise the previous month.
The reports came as investors continued to speculate over the timing of the Federal Reserve's widely expected reduction in monthly bond purchases.
The euro was also lower against the pound with EUR/GBP retreating 0.42%, to hit 0.8416.
Also Thursday, the Bank of England held its benchmark interest rate at 0.50% and kept the size of its asset purchase program unchanged at GBP375 billion.
Later in the day, the ISM was to release data on non-manufacturing activity in the U.S.