EURUSD lower in Asian trade, January 7 2013

The euro was traded lower against the greenback in EURUSD today, as the American dollar stayed supported in spite of data on Friday showing that the recovery in the U.S. labor market could be moderating.

During the late Asian trade, currency pair EURUSD hit the level 1.3030, the lowest level for this session; later on the pair found consolidation at 1.3050.

The pair EURUSD was expected to find support at 1.2996, bottom from Friday and resistance at 1.3189, which is the highest level from Thursday.


Official data indicated that the U.S. economy added 155,000 jobs in December, which is more than expected for a rise of 150,000, but easing from an upwardly revised increase of 161,000 in November. The unemployment rate stayed firm at 7.8%.

The U.S. dollar found support after the minutes of the Federal Reserve’s December meeting pointed that some policymakers require an earlier easing program.

The euro remain stable against the pound, with EURGBP trading at 0.8130 and was lower against the yen, with EURJPY reaching the level 114.62.

Later this day, the euro zone is expected to release official data on producer price inflation, together with report on investor confidence.

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