The euro pared losses against the U.S. dollar on Friday, pulling away
from 11-year lows after the release of disappointing U.S. housing and
manufacturing data, while markets were still digesting the European
Central Bank's announcement of a large scale stimulus program.
EUR/USD eased off 1.1118, the lowest since September 2003, to hit 1.1247 during U.S. morning trade, still down 1.02%.
The pair was likely to find support at 1.0762 and resistance at 1.1647, Thursday's high.
In a report, the National Association of Realtors said that U.S. existing home sales rose by 2.4% in December to 5,040 million units from a revised total of 4,920 million units in November. Analysts had expected existing home sales to hit 5,060 million units last month.
Separately, research firm Markit said the U.S. flash manufacturing purchasing managers' index fell to 53.7 this month from 53.9 in December, disappointing expectations for a rise to 54.0.
The euro found some support after a report on Friday showed that the Markit preliminary composite PMI, which measures activity in the manufacturing and services sectors in the euro area, rose to 52.2 this month from a reading of 51.4 in December.
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EUR/USD eased off 1.1118, the lowest since September 2003, to hit 1.1247 during U.S. morning trade, still down 1.02%.
The pair was likely to find support at 1.0762 and resistance at 1.1647, Thursday's high.
In a report, the National Association of Realtors said that U.S. existing home sales rose by 2.4% in December to 5,040 million units from a revised total of 4,920 million units in November. Analysts had expected existing home sales to hit 5,060 million units last month.
Separately, research firm Markit said the U.S. flash manufacturing purchasing managers' index fell to 53.7 this month from 53.9 in December, disappointing expectations for a rise to 54.0.
The euro found some support after a report on Friday showed that the Markit preliminary composite PMI, which measures activity in the manufacturing and services sectors in the euro area, rose to 52.2 this month from a reading of 51.4 in December.
Read more Click here / www.trade4x.net
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