Investing.com - The euro was lower against its major counterparts on Thursday, ahead of Spain’s annual statement on Friday, amid concerns that the government will fail to implement harsh austerity measures to slash the country’s deficit, in the face of public unrest and a looming recession.
During European afternoon trade, the euro was trading down against the U.S. dollar, with EUR/USD shedding 0.23% to hit 1.3285.
Earlier Thursday, official data showed that the number of unemployed people in Germany fell more-than-expected in March, while the country’s jobless rate dropped to a record low of 6.7%, indicating that the region’s largest economy is shrugging off the effects of the debt crisis.
Meanwhile, investors continued to look ahead to a meeting of euro zone finance ministers on Friday, amid expectations that they would agree on a larger debt firewall to combat the debt crisis in the region.
The single currency was also lower against the pound, with EUR/GBP slipping 0.20% to hit 0.8365.
In the U.K., the Bank of England said earlier that mortgage approvals fell to their lowest level in more than eight months in February, falling to 48,986 down from 57,899 the previous month.
A separate report showed that U.K. house prices posted the largest monthly decline in more than two years this month.
The euro was sharply lower against the broadly stronger yen but remained steady against the Swiss franc, with EUR/JPY falling 0.99% to hit 109.31 and EUR/CHF dipping 0.07% to hit 1.2050.
The yen firmed up as Japanese companies moved to repatriate overseas earnings before the end of Japan’s fiscal year on March 31.
Meanwhile, official data showed that retail sales in Japan rose more-than-expected in February, adding 3.5% after a 1.8% increase the previous month.
The shared currency was mixed against the Canadian, Australian and New Zealand dollars, with EUR/CAD inching down 0.05% to hit 1.3288, EUR/AUD easing up 0.15% to hit 1.2837 and EUR/NZD dipping 0.01% to hit 1.6299.
Later in the day, the U.S. was to publish government data on unemployment claims, as well as final data on fourth quarter gross domestic product. In addition, Federal Reserve Chairman Ben Bernanke was to speak.
During European afternoon trade, the euro was trading down against the U.S. dollar, with EUR/USD shedding 0.23% to hit 1.3285.
Earlier Thursday, official data showed that the number of unemployed people in Germany fell more-than-expected in March, while the country’s jobless rate dropped to a record low of 6.7%, indicating that the region’s largest economy is shrugging off the effects of the debt crisis.
Meanwhile, investors continued to look ahead to a meeting of euro zone finance ministers on Friday, amid expectations that they would agree on a larger debt firewall to combat the debt crisis in the region.
The single currency was also lower against the pound, with EUR/GBP slipping 0.20% to hit 0.8365.
In the U.K., the Bank of England said earlier that mortgage approvals fell to their lowest level in more than eight months in February, falling to 48,986 down from 57,899 the previous month.
A separate report showed that U.K. house prices posted the largest monthly decline in more than two years this month.
The euro was sharply lower against the broadly stronger yen but remained steady against the Swiss franc, with EUR/JPY falling 0.99% to hit 109.31 and EUR/CHF dipping 0.07% to hit 1.2050.
The yen firmed up as Japanese companies moved to repatriate overseas earnings before the end of Japan’s fiscal year on March 31.
Meanwhile, official data showed that retail sales in Japan rose more-than-expected in February, adding 3.5% after a 1.8% increase the previous month.
The shared currency was mixed against the Canadian, Australian and New Zealand dollars, with EUR/CAD inching down 0.05% to hit 1.3288, EUR/AUD easing up 0.15% to hit 1.2837 and EUR/NZD dipping 0.01% to hit 1.6299.
Later in the day, the U.S. was to publish government data on unemployment claims, as well as final data on fourth quarter gross domestic product. In addition, Federal Reserve Chairman Ben Bernanke was to speak.