Euro Mixed After Eurozone CPI, Jobless Rate
08:16, 31st October 2014
(RTTNews) - The euro showed mixed trading against its major counterparts in European deals on Friday, after data showed that Eurozone consumer price inflation for October and jobless rate for September rose in line with forecasts.
Eurozone inflation rose slightly in October as expected by economists, flash data from Eurostat showed.
Inflation rose to 0.4 percent in October from 0.3 percent in September. It has been below the 2 percent ceiling since February 2013.
The euro area jobless rate remained stable at 11.5 percent in September, a separate data showed. The rate came in line with expectations.
Compared with August, the number of persons unemployed decreased by 19,000 in September. On a yearly basis, unemployment plunged 826,000.
The European stocks are trading higher, buoyed by upbeat U.S. growth data and the Bank of Japan's expansion of stimulus program.
The euro hit 140.47 against the yen, its strongest since September 19. If the euro continues its uptrend, 141.00 is seen as its next possible resistance level.
The single currency recovered to 1.2586 against the U.S. dollar, following a decline to more than a 3-week low of 1.2540 at 3:20 am ET. The next possible resistance for the euro is seen around the 1.27 zone.
The euro that closed yesterday's trading at 0.7880 against the pound declined to more than a 2-week low of 0.7852. The euro is likely to find support around the 0.78 zone.
The euro climbed to an 8-day high of 1.2068 against the franc in early deals, and held steady thereafter. On the upside, 1.21 is seen as the euro's next possible resistance level.
Looking ahead, Canada GDP data for August, U.S. personal income and spending data for September and Reuters/University of Michigan's October consumer sentiment are due in the New York session.
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