Investing.com- The euro trimmed gains against the U.S. dollar on Thursday, retreating from a 4-day high, following the release of mixed U.S. data on employment and manufacturing.
EUR/USD retreated from 1.4049, the pair’s highest since October 15, to hit 1.3988, during European afternoon trade, gaining 0.17%.
The pair was likely to find support at 1.3697, Wednesday’s low and resistance at 1.4155, last Friday’s high and a 10-month high.
Earlier in the day, the Federal Reserve Bank of Philadelphia said that it’s manufacturing index rose less-than-expected in October, climbing to 1.0, after falling to 0.7 in September.
Analysts had expected the index to rise to 2.3 in October.
The report said that while the new orders index continued to suggest weak demand for manufactured goods and that the price of firm’s manufactured goods continued to decline, the survey suggested that optimism among the region’s manufacturing executives improved notably in October.
In a separate report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 16 fell to a seasonally adjusted 452K, after rising to a revised 475K in the preceding week.
Analysts had expected initial jobless claims to decline to 455K in the week ending October 16.
The euro was also up against the pound, with EUR/GBP gaining 0.69% to hit 0.8873.
Also Thursday, preliminary data showed that the euro zone’s manufacturing PMI rose unexpectedly in October.
EUR/USD retreated from 1.4049, the pair’s highest since October 15, to hit 1.3988, during European afternoon trade, gaining 0.17%.
The pair was likely to find support at 1.3697, Wednesday’s low and resistance at 1.4155, last Friday’s high and a 10-month high.
Earlier in the day, the Federal Reserve Bank of Philadelphia said that it’s manufacturing index rose less-than-expected in October, climbing to 1.0, after falling to 0.7 in September.
Analysts had expected the index to rise to 2.3 in October.
The report said that while the new orders index continued to suggest weak demand for manufactured goods and that the price of firm’s manufactured goods continued to decline, the survey suggested that optimism among the region’s manufacturing executives improved notably in October.
In a separate report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 16 fell to a seasonally adjusted 452K, after rising to a revised 475K in the preceding week.
Analysts had expected initial jobless claims to decline to 455K in the week ending October 16.
The euro was also up against the pound, with EUR/GBP gaining 0.69% to hit 0.8873.
Also Thursday, preliminary data showed that the euro zone’s manufacturing PMI rose unexpectedly in October.