Investing.com - The euro took back earlier losses against the greenback sustained on Friday after the U.S. government reported that the economy added more jobs than expected in November and fanned widespread expectations for the Federal Reserve to begin scaling back stimulus measures in early 2014.
In U.S. trading on Friday, EUR/USD was up 0.16% at 1.3688, up from a session low of 1.3544 and off from a high of 1.3697.
The pair was likely to find support at 1.3524, Tuesday's low, and resistance at 1.3818, the high from Oct. 28.
The dollar advanced earlier after the Department of Labor said the U.S. economy added 203,000 jobs in November, beating expectations for a 180,000 increase and up from a downwardly revised 200,000 rise the previous month.
In the private sector, 196,000 jobs were added last month, compared to expectations for a 180,000 rise, after an increase of 214,000 in October.
The report also said the U.S. unemployment rate fell to 7.0% in November, from 7.3% in October, beating expectations for a downtick to 7.2%.
Also on Friday, The preliminary Thomson Reuters/University of Michigan consumer sentiment index increased to 82.5 in December from 75.1 the previous month, far surpassing expectations for a 76.0 reading.
The data kept expectations firmly in place that the Federal Reserve will begin scaling back its USD85 billion in monthly bond purchases, which weaken the dollar to spur recovery.
Profit taking sent the greenback falling, as a strong jobs report was already priced into trading prior to Friday.
Meanwhile in Europe, official data revealed that German factory orders fell 2.2% in October, more than the expected 0.6% slip after a downwardly revised 3.1% increase the previous month.
The single currency was up against the pound and up against the yen, with EUR/GBP trading up 0.07% at 0.8372 and EUR/JPY trading up 1.12% at 140.68.
In U.S. trading on Friday, EUR/USD was up 0.16% at 1.3688, up from a session low of 1.3544 and off from a high of 1.3697.
The pair was likely to find support at 1.3524, Tuesday's low, and resistance at 1.3818, the high from Oct. 28.
The dollar advanced earlier after the Department of Labor said the U.S. economy added 203,000 jobs in November, beating expectations for a 180,000 increase and up from a downwardly revised 200,000 rise the previous month.
In the private sector, 196,000 jobs were added last month, compared to expectations for a 180,000 rise, after an increase of 214,000 in October.
The report also said the U.S. unemployment rate fell to 7.0% in November, from 7.3% in October, beating expectations for a downtick to 7.2%.
Also on Friday, The preliminary Thomson Reuters/University of Michigan consumer sentiment index increased to 82.5 in December from 75.1 the previous month, far surpassing expectations for a 76.0 reading.
The data kept expectations firmly in place that the Federal Reserve will begin scaling back its USD85 billion in monthly bond purchases, which weaken the dollar to spur recovery.
Profit taking sent the greenback falling, as a strong jobs report was already priced into trading prior to Friday.
Meanwhile in Europe, official data revealed that German factory orders fell 2.2% in October, more than the expected 0.6% slip after a downwardly revised 3.1% increase the previous month.
The single currency was up against the pound and up against the yen, with EUR/GBP trading up 0.07% at 0.8372 and EUR/JPY trading up 1.12% at 140.68.