Euro steady Friday after upbeat German data; Greece becomes first country since 1980s to defer IMF payment

On Friday the euro was almost unchanged against its U.S. counterpart, after the release of positive German factory orders data. Sentiment on the dollar improved ahead of the day's highly anticipated report on U.S. employment. Meanwhile, investors were eyeing the development of negotiations between Greece and its creditors. However, concerns eased, as Greece deferred the IMF payment.

EUR/USD hit 1.1248 during late Asian trade, the session high; the pair last traded at 1.1236.

Earlier, official numbers indicated that German factory orders increased by 1.4% in April, beating expectations for a 0.5% gain. The change in factory orders for March was revised to a 1.1% rise from a previously estimated 0.9% uptick.

Meanwhile, Greek jitters eased, as the country deferred the IMF payment, becoming the first country to do it since 1980s. Talks between Greek Prime Minister Alexis Tsipras and European Commission President Jean-Claude Juncker in Brussels on Thursday ended without an agreement, as key divisions remained on the both sides.

“The delay in the payment to the IMF is an escalation of the confrontation,” Nicholas Economides, an economics professor at New York University’s Stern School of Business, said to Bloomberg. “It increases the risk of bankruptcy and Grexit.”

Investors were now awaiting data on U.S. nonfarm payrolls due later in the day for further indications on the strength of the job market and for cues on the timing of the Fed rate hike.