BRUSSELS (Alliance News) - The euro turned in mixed against other major currencies in European deals on Friday after data on the region's trade in December and GDP growth in fourth quarter.
The euro area's economic growth accelerated more than expected in the fourth quarter, flash estimates from Eurostat showed today.
Gross domestic product grew 0.3% sequentially, which was faster than the 0.1% rise posted in the third quarter and above the 0.2% forecast by economists.
Eurozone's merchandise trade surplus increased in December from last year as exports grew at a faster rate than imports, another report revealed today.
December's overall international trade resulted in a surplus of EUR13.9 billion, which was higher than the EUR9.8 billion surplus recoded a year earlier.
Goods exports expanded 4% year-on-year to EUR148.8 billion in December. Imports advanced 1% annually to EUR134.9 billion at the end of last year.
Having advanced to more than 2-week high of 1.3714 against the greenback earlier, the euro pared gains during European deals. The pair ended yesterday's deals at 1.3682.
The euro's acceleration was driven by German GDP data, which grew 0.4% in the fourth quarter from a quarter ago, versus forecasts for 0.3% rise.
The euro bounced off from its Asian session's 9-day low of 1.2206 against the franc in European deals and moved sidelines thereafter. At Thursday's close, the pair was worth 1.2227.
The euro retreated from early 2-day high of 140.06 against the yen before stabilising in European trades. The euro-yen pair finished deals at 139.85 yesterday.
After spiking up to 0.8227 against the pound at 2:30 am ET, the euro weakened to 0.8192. The euro may possibly face support around the 0.81 region. The pair was worth 0.8214 at yesterday's close.
Looking ahead, Canada manufacturing shipments for December, US import price index and industrial production for January, the Reuters/University of Michigan's preliminary consumer sentiment index for February are due in the New York session.
