Investing.com - The euro pushed lower against the U.S. dollar on Thursday, after euro zone inflation data came out in line with expectations as mounting concerns over global economic growth continued to dominate market sentiment.
EUR/USD hit 1.2706 during European early afternoon trade, the session low; the pair subsequently consolidated at 1.2737, retreating 0.76%.
The pair was likely to find support at 1.2623, Wednesday's low and resistance at 1.2886, Wednesday's high and a three-week high.
Revised data earlier showed that euro zone consumer price inflation remained at 0.3% in September, in line with expectations.
Core CPI, which excludes food, energy, alcohol, and tobacco, ticked up to 0.8% last month from an initial estimate of 0.7%.
But sentiment on the euro remained fragile after data on Tuesday showed that the euro zone's industrial production declined more than expected in August, while a separate report showed that German economic sentiment deteriorated to the lowest level since December 2012 in October.
Markets were also jittery amid growing concerns over the spread of Ebola. On Wednesday, President Barack Obama said the country's Center for Disease Control and Prevention (CDC) would send rapid response teams to any new suspected Ebola cases in the U.S.
Mr. Obama's comments came after the infection of a second Texas health care worker.
The euro was also lower against the pound, with EUR/GBP declining 0.57% to 0.7969.
Later in the day, the U.S. was to release the weekly report on initial jobless claims as well as data on industrial production and manufacturing activity in the Philadelphia region.