Investing.com - The euro remained lower against the U.S. dollar on Thursday, as the release of disappointing U.S. economic growth data weighed on demand for the greenback amid ongoing speculation over the future of the Federal Reserve's stimulus program.
EUR/USD hit 1.3485 during European afternoon trade, the session low; the pair subsequently conslidated at 1.3499, shedding 0.20%.
The pair was likely to find support at 1.3338, the low of September 18 and resistance at 1.3544, the high of September 23.
Official data showed that the U.S. economy expanded by 2.5% in the second quarter, confounding expectations for a 2.6% expansion.
In addition, the U.S. Department of Labor said that the number of people who filed for unemployment assistance in the U.S. in the week ending September 20 fell by 5,000 to a seasonally adjusted 305,000, from a downwardly revised 310,000 the previous week.
Analysts had expected the number of people who filed for unemployment assistance to rise by 15,000 to 325,000 last week.
The data came after a recent string of economic reports underlined concerns over the outlook for the U.S. economic recovery.
Last week, the Fed said it wanted to see more evidence of a sustained economic recovery before it reduced stimulus.
Separately, U.S. budget concerns weighed on market sentiment as Republican leaders in the U.S. House of Representatives notified members that a vote on raison the debt limit could come as early as Friday.
The U.S. Congress is struggling to pass a spending bill to keep the government funded beyond October 1.
The euro was steady against the pound with EUR/GBP dipping 0.02%, to hit 0.8409.
Later in the day, the U.S. was to release private sector data on pending home sales.
EUR/USD hit 1.3485 during European afternoon trade, the session low; the pair subsequently conslidated at 1.3499, shedding 0.20%.
The pair was likely to find support at 1.3338, the low of September 18 and resistance at 1.3544, the high of September 23.
Official data showed that the U.S. economy expanded by 2.5% in the second quarter, confounding expectations for a 2.6% expansion.
In addition, the U.S. Department of Labor said that the number of people who filed for unemployment assistance in the U.S. in the week ending September 20 fell by 5,000 to a seasonally adjusted 305,000, from a downwardly revised 310,000 the previous week.
Analysts had expected the number of people who filed for unemployment assistance to rise by 15,000 to 325,000 last week.
The data came after a recent string of economic reports underlined concerns over the outlook for the U.S. economic recovery.
Last week, the Fed said it wanted to see more evidence of a sustained economic recovery before it reduced stimulus.
Separately, U.S. budget concerns weighed on market sentiment as Republican leaders in the U.S. House of Representatives notified members that a vote on raison the debt limit could come as early as Friday.
The U.S. Congress is struggling to pass a spending bill to keep the government funded beyond October 1.
The euro was steady against the pound with EUR/GBP dipping 0.02%, to hit 0.8409.
Later in the day, the U.S. was to release private sector data on pending home sales.