© Reuters. Euro still on the downside vs. dollar as focus turns to Fed Investing.com – The euro pared losses against the U.S. dollar on Friday, but remained under pressure as strong U.S. employment data supported the greenback and investors digested the European Central Bank’s latest policy statement.
eased off 1.0856, the session low, to hit 1.0930 during U.S. morning trade, still down 0.12%.
The pair was likely to find support at 1.0706, the low of November 6 and a seven-month low and resistance at 1.0982, Thursday’s high and a one-month peak.
The Labor Department said 211.000 jobs in November, beating expectations for an increase of 200.000. The U.S. created 298.000 jobs in October, whose figure was revised from a previously estimated 271.000.
remained unchanged at 5.0% last month, in line with expectations.
rose 0.2% in November, in line with market expectations.
The data came a day after Fed Chair Janet Yellen strongly indicated to Congress on Thursday that Fed policymakers are likely to vote to raise interest rates at its meeting in two weeks, barring any major shocks to the global economy.
“I currently judge that US economic growth is likely to be sufficient over the next year or two to result in further improvement in the labor market,” she said.
A separate report showed that widened to $ 43.89 billion in October from a revised deficit of $ 42.46 billion the previous month. Analysts had expected the trade deficit to narrow to $ 40.50 billion in October.
The euro had surged over 2% against the greenback on Thursday after ECB President Mario Draghi said that the pace of the quantitative easing program is to remain unchanged at €60 billion, disappointing expectations that the central bank would speed up its bond-buying scheme.
The comments came after to -0.3% from -0.20%, in line with market expectations.
was left unchanged at a record-low 0.05%, in line with market expectations.
Earlier Friday, data showed that increased by 1.8% in October, beating expectations for a 1.2% rise. Factory orders fell 0.7% in September, whose figure was revised from a previously estimated 1.7% decline.
The euro was steady against the pound, with at 0.7227.
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Foreign exchange - Euro stays decrease towards stronger greenback
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