The euro was little changed against the dollar on Friday, as concerns
over the Greek debt crisis continued to weigh, but
stronger-than-expected German growth figures lent support.
EUR/USD dipped 0.10% to 1.1391 in late trade, but the pair ended the week up 0.73%, its third consecutively weekly gain.
The euro found support after data on Friday showed that Germany’s economy, the euro zones largest, grew 0.7% in the fourth quarter, more than double the 0.3% forecast by economists.
The euro zone economy expanded by a larger-than-expected 0.3% in the three months to December, but Greece’s economy contracted 0.2% in the same period.
Meanwhile, officials from Greece and the European Union were due to hold fresh talks on Monday after talks on a new debt deal last week ended without an agreement.
Greece’s current €240 billion bailout is due to expire on February 28 and the new Greek government does not want it extended, fuelling fears over a conflict with its creditors which could trigger the country’s exit from the euro zone.
Sentiment on the dollar was hit after data showing U.S. consumer sentiment unexpectedly deteriorated in February.
Read more Click here / www.trade4x.net
EUR/USD dipped 0.10% to 1.1391 in late trade, but the pair ended the week up 0.73%, its third consecutively weekly gain.
The euro found support after data on Friday showed that Germany’s economy, the euro zones largest, grew 0.7% in the fourth quarter, more than double the 0.3% forecast by economists.
The euro zone economy expanded by a larger-than-expected 0.3% in the three months to December, but Greece’s economy contracted 0.2% in the same period.
Meanwhile, officials from Greece and the European Union were due to hold fresh talks on Monday after talks on a new debt deal last week ended without an agreement.
Greece’s current €240 billion bailout is due to expire on February 28 and the new Greek government does not want it extended, fuelling fears over a conflict with its creditors which could trigger the country’s exit from the euro zone.
Sentiment on the dollar was hit after data showing U.S. consumer sentiment unexpectedly deteriorated in February.
Read more Click here / www.trade4x.net
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