Investing.com – The euro was up against the U.S. dollar for the third day on Thursday, as weak U.S. economic data fuelled speculation that further monetary easing may be required to support the faltering U.S. economy.
EUR/USD hit 1.3986 during late Asian trade, the pair’s highest since February 3; the pair subsequently consolidated at 1.3972, gaining 0.30%.
The pair was likely to find support at 1.3798, Wednesday’s low and resistance at 1.4178, the high of January 26.
On Wednesday, data showed that U.S. ADP non-farm payrolls declined unexpectedly in September. The report said that the decline in private employment in September “confirms a pause in the economic recovery already evident in other data”.
The euro was also up against the pound, with EUR/GBP gaining 0.35% to hit 0.8799.
Later in the day, the U.S. was to release key weekly data on initial jobless claims.
EUR/USD hit 1.3986 during late Asian trade, the pair’s highest since February 3; the pair subsequently consolidated at 1.3972, gaining 0.30%.
The pair was likely to find support at 1.3798, Wednesday’s low and resistance at 1.4178, the high of January 26.
On Wednesday, data showed that U.S. ADP non-farm payrolls declined unexpectedly in September. The report said that the decline in private employment in September “confirms a pause in the economic recovery already evident in other data”.
The euro was also up against the pound, with EUR/GBP gaining 0.35% to hit 0.8799.
Later in the day, the U.S. was to release key weekly data on initial jobless claims.