Investing.com - The euro edged lower against the U.S. dollar on Friday, as positive U.S. producer price inflation data supported demand for the greenback, while markets were still eyeing U.S. consumer sentiment data to be published later in the day.
EUR/USD hit 1.3866 during European afternoon trade, the session low; the pair subsequently consolidated at 1.3873, slipping 0.10%.
The pair was likely to find support at 1.3810, the low of March 19 and resistance at 1.3933, the high of March 19.
Official data showed that U.S. producer price inflation rose 0.5% in March, exceeding expectations for a 0.1% gain, after a 0.1% fall the previous month.
Core producer price inflation, which excludes food, energy and trade, advanced 0.6% last month, compared to expectations for a 0.2% rise, after a 0.2% decline in February.
The report came a day after the Labor Department reported that the number of individuals filing for initial jobless benefits in the week ending April 4 fell by 30,000 to a seasonally adjusted 300,000 from the previous week’s upwardly revised total of 332,000.
Continuing jobless claims declined to 2.77 million, the lowest since January 2008.
Meanwhile, the euro remained mildly supported after Greece made a successful return to the financial markets on Thursday, raising €3 billion in its first bond auction since 2010, when Athens sought its first bailout.
The euro was higher against the pound, with EUR/GBP adding 0.23% to 0.8294.
Later in the day, the U.S. was to release the preliminary report on the University of Michigan’s consumer sentiment index.