Logo

During Friday European session, the euro showed firmness against its U.S. and Japanese counterparts as the Euro-zone economic sentiment rose for the fifth consecutive month in August. At the same time, euro showed weakness against the currencies of U.K. and Switzerland.
European stocks rose early morning in Europe Friday after two days of losses, led higher by commodity and banking stocks.
At 4:37 am ET, the FTSEurofirst 300 .FTEU3 index of top European shares grew by 1.2% at 980.46 points after falling by 0.5% yesterday. It has gained 5% in August and is on track for a second consecutive month of gains.
The euro, that closed yesterday's trading at 134.19 against the yen rose to a 2-day high of 135.04 in early deals on Friday. The next upside target level for EUR/JPY pair is seen at 135.9.
The euro climbed to 1.4378 against the dollar in early Asian deals on Friday. Although the euro weakened in the latter part of the session, it rebounded after hitting a low of 1.4327 at 3:40 am ET. As of now, the euro-dollar pair is worth 1.4367, up from Thursday's close of 1.4346. The near term resistance for the pair is seen around the 1.441 level.
On the other hand the single currency weakened versus its European counterparts, pound and franc.
At 4:30 am ET Friday, the euro touched 0.8788 against the pound, falling from Thursday's close of 0.8817. On the downside, 0.876 is seen as the next target level for the European currency.
The euro dropped against the Swiss franc after hitting a high of 1.5222 at 2:40 am ET Friday. Currently, the euro-franc pair is trading at 1.5182, compared to yesterday's close of 1.5193. If the pair weakens further, it may target the 1.5166 level.