The euro trimmed losses against the US dollar on Friday, but is still under pressure as concerns over Greece's debt situation continued to weigh and as US reports strong consumer sentiment supported demand for the greenback.
EUR / USD eased from 1.1152, the pair's lowest since June 8, to hit 1.1223 during US morning trade, still down 0.32%. The pair was likely to find support at 1.1080, the low of September 8 and resistance at 1.1332 Thursday high.
The euro remained under pressure after the International Monetary Fund pulled out of the Greek debt talks on Thursday for allegedly Athens failed to compromise on the reform of the labor market and pensions.
A government spokesman said the Greek negotiating team was "ready" to intensify efforts to wrap up a deal "even in the next 24 hours." Meanwhile, in the initial report, the University of Michigan said its index of consumer sentiment rose to 94.6 this month from a reading 90.7 in May, compared with expectations for a rise to 91.5.
UoM also said that inflation expectations for the next 12 years more and more reduced to 2.7% in June from 2.8% in May. The report came after the US Labor Department said the producer price index rose 0.5% in May, just above expectations for a 0.4% uptick, after a 0.4% slip the previous month. Year over year, producer prices fell 1.1% last month, in line with expectations, after a 1.3% decline in April.
Core producer prices, which exclude food and energy, rose 0.1% mark in May, in line with market expectations and following a 0.2% decline in April. The euro was also lower against the pound, with EUR / GBP slipping 0.19% to 0.7236.
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