BRUSSELS (Alliance News) - The euro showed mixed trading against its major rivals in European deals on Friday, after data showed that euro area economy expanded as initially estimated in the third quarter.
The second estimate from Eurostat showed gross domestic product grew 0.2% sequentially in the third quarter following a 0.1% rise in the prior quarter.
On a yearly basis, the growth held steady at 0.8%, in line with flash estimate published on November 14.
The euro held firm in the New York session yesterday after the European Central Bank President Mario Draghi refrained from introducing quantitative easing immediately, signaling an action in early 2015. Draghi hinted at the purchase of government bonds, known as quantitative easing, by the central bank after the assessment of policies in the first quarter of 2015.
ECB staff "have stepped up the technical preparations for further measures, which could, if needed, be implemented in a timely manner," Draghi said in his introductory statement at the customary post-decision press conference, held for the first time at the new ECB headquarters in Frankfurt.
Traders now eagerly await the all-important monthly US employment report due out today for further signs that the US economy is on the mend.
The euro edged down to 0.7882 against the pound, retreating from a 3-day high of 0.7922 hit at 1:00 am ET. The next possible support for the euro-pound pair lies around the 0.78 zone.
Inflation expectations in the UK declined in November and the proportion of the public expecting an interest rate hike decreased from the prior quarter, the results of a quarterly survey of public attitudes to inflation, published by the Bank of England showed.
Inflation expectations for the coming year fell to 2.5% from 2.8% estimated in August.
The single currency ticked down to 1.2359 against the US dollar, after advancing to a 2-day high of 1.2455 on Thursday. If the euro extends decline, 1.225 is seen as its next possible support level.
The euro hit a session's low of 1.2019 against the Swiss franc. The euro is poised to challenge support around the 1.20 level.
The euro advanced to 148.90 against the Japanese yen, up by 0.4% from Thursday's closing quote of 148.24. Next key resistance for the euro-yen pair may be found around the 150.00 mark.
Japan's leading index declined to its lowest level seen since early 2013, preliminary data from the Cabinet Office showed.
The leading index fell to 104 in October, the lowest since January 2013, from 105.6 in the prior month.
Besides jobs data, US trade, factory orders and consumer credit data - all for October, as well as Canada jobs data for November are due to be released in the New York session.
At 8:45 am ET, Federal Reserve Bank of Cleveland President Loretta Mester will deliver a speech at the Cleveland Fed and Office of Financial Research 2014 Financial Stability Conference in Washington DC.
At 2:45 pm ET, Federal Reserve Governor Stanley Fischer will deliver a speech about fiscal policy at the International Monetary Fund Fiscal Affairs Department's 50th Anniversary Conference "Fiscal Affairs, Past and Future" in Washington DC, via satellite.
