Investing.com - The euro fell to fresh session lows against the U.S. dollar on Friday, as demand for the greenback strengthened broadly after the release of upbeat U.S. nonfarm payrolls data.
EUR/USD hit 1.3812 during U.S. morning trade, the pair''s lowest since Wednesday; the pair subsequently consolidated at 1.3822, retreating 0.34%.
The pair was likely to find support at 1.3778, the low of April 30 and resistance at 1.3889, Thursday''s high.
The dollar found support after the Labor Department said the U.S. economy added 288,000 jobs in April, beating expectations for a 210,000 increase. March''s figure was revised up to a 203,000 rise from a previously estimated 192,000 gain.
The private sector added 273,000 last month, more than the expected 210,000 rise. In March, the number of private sector jobs was revised up to a 202,000 increase a previously estimated 192,000 rise.
The report also showed that the U.S. unemployment rate fell to 6.3% in April, from 6.7% the previous month, compared to expectations for a fall 6.6%.
Separately, data showed that U.S. factory orders rose 1.1% in March, less than the expected 1.4% gain, after a 1.5% rise in February, whose figure was revised down from a previously estimated 1.6% increase.
In the euro zone, data earlier showed that the unemployment rate remained unchanged at 11.8% in March, confounding expectations for a rise to 11.9%. March''s figure was revised down from a previously estimated rate of 11.9%.
Separately, Markit said Germany''s manufacturing purchasing managers'' index slipped to 54.1 last month, from a reading of 54.2 in March. Analysts had expected the index to remain unchanged in April.
In Italy however, the manufacturing PMI rose to a 35-month high of 54.0 last month, from a reading of 52.4 in March, while Spain''s manufacturing PMI ticked down to 52.7 in April, from a reading of 52.8 the previous month.
The euro was little changed against the pound, with EUR/GBP inching up 0.02% to 0.8211.
Also Friday, Markit said the U.K. construction PMI fell to 60.8 in April, from a reading of 62.5 the previous monh. Analysts had expected the index to tick down to 62.0 last month.
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