Investing.com - The euro was almost unchanged against the U.S. dollar on Thursday, as markets were jittery ahead of comments by the European Central Bank president as concerns over the debt crisis in the euro zone continued to weigh.
EUR/USD hit 1.3119 during U.S. morning trade, the daily high; the pair subsequently consolidated at 1.3034, edging down 0.09%.
The pair was likely to find support at 1.2956, the low of December 15 and resistance at 1.3197, the high of December 21.
ECB President Mario Draghi and Bank of England Governor Mervyn King were to hold a joint press conference in Frankfurt later in the day after a meeting of the European Systemic Risk Board.
The single currency came under pressure earlier as concerns over the debt crisis in the euro zone persisted amid speculation of an imminent French downgrade.
In the U.S., the Bureau of Economic Analysis said that gross domestic product increased at a seasonally adjusted annual rate of 1.8% during the third quarter, down from a previous estimate of 2.0%.
Analysts had expected the second estimate of U.S. gross domestic product to remain unchanged at 2.0%.
The data primarily reflected a downward revision to personal consumption, which grew 1.6% compared to a previous estimate of 2.3%. Consumer spending typically accounts for nearly 70% of U.S. economic growth.
A separate report showed that the number of people who filed for unemployment assistance in the U.S. last week fell unexpectedly to the lowest level since April 2008, dropping to 364,000.
Elsewhere, the euro was also steady against the pound with EUR/GBP inching down 0.06%, to hit 0.8320.
Also Thursday, Italy's Senate passed a vote of confidence that put the final seal on an emergency austerity budget to restore market confidence in the euro zone's third biggest economy.
EUR/USD hit 1.3119 during U.S. morning trade, the daily high; the pair subsequently consolidated at 1.3034, edging down 0.09%.
The pair was likely to find support at 1.2956, the low of December 15 and resistance at 1.3197, the high of December 21.
ECB President Mario Draghi and Bank of England Governor Mervyn King were to hold a joint press conference in Frankfurt later in the day after a meeting of the European Systemic Risk Board.
The single currency came under pressure earlier as concerns over the debt crisis in the euro zone persisted amid speculation of an imminent French downgrade.
In the U.S., the Bureau of Economic Analysis said that gross domestic product increased at a seasonally adjusted annual rate of 1.8% during the third quarter, down from a previous estimate of 2.0%.
Analysts had expected the second estimate of U.S. gross domestic product to remain unchanged at 2.0%.
The data primarily reflected a downward revision to personal consumption, which grew 1.6% compared to a previous estimate of 2.3%. Consumer spending typically accounts for nearly 70% of U.S. economic growth.
A separate report showed that the number of people who filed for unemployment assistance in the U.S. last week fell unexpectedly to the lowest level since April 2008, dropping to 364,000.
Elsewhere, the euro was also steady against the pound with EUR/GBP inching down 0.06%, to hit 0.8320.
Also Thursday, Italy's Senate passed a vote of confidence that put the final seal on an emergency austerity budget to restore market confidence in the euro zone's third biggest economy.