On Friday the euro edged down versus the greenback, but remained on levels close to 3.5-month high in expectation of economic data from the Euro zone, scheduled to be released later in the day.
EUR/USD pair fell to a session low at 1.3332 during the later phase of Asian trade, after which consolidation followed at 1.3350. Support was expected at June 12th low, 1.3267, while resistance was to be met at February 20th high, 1.3434.
US dollar gained some ground versus the common currency after stronger-than-projections US data on Thursday fueled expectations that the Federal Reserve Bank will begin to taper its asset purchases later this year. The Labor Department announced that the number of people, who filed for unemployment assistance decreased more than expected during the week until 08.06.2013, falling down to 334 000. Experts projected a smaller rate of decrease to 345 000.
Additionally, Retail sales in the United States rose by 0.6% in May on a monthly basis, extending in comparison with April’s figure, when the indicator added only 0.1%. Retail sales ex autos indicator jumped by 0.3% in May on a monthly basis, meeting expectations, while revised data during April showed no change, compared to the preceding month.
The euro was stable against the British pound, with EUR/GBP pair dropping by a mere 0.05% to 0.8503.
Today Euro zone is expected to release data, regarding the Harmonized Index of Consumer Prices (HICP), Core Harmonized Index of Consumer Prices (HICP) and Employment. Meanwhile, the United States will release data on producer price inflation, Industrial Production, the capacity utilization rate, Current Account, Treasury International Capital (TIC) Flows and Preliminary University of Michigan Confidence index.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
