The euro held steady against the U.S. dollar on Friday, as markets were jittery ahead of the release of euro zone inflation data later in the day, while concerns over tensions between Ukraine and Russia continued to weigh.EUR/USD hit 1.3694 during European morning trade, the session low; the pair subsequently consolidated at 1.3708, easing 0.01%.
The pair was likely to find support at 1.3643, Thursday's low and resistance at 1.3767, the high of February 25.Market participants were eyeing euro zone inflation data due later in the day, as it was likely to give further indications on whether the European Central Bank will cut interest rates at its policy meeting next week.But investors remained cautious amid tensions in Crimea, after armed men seized the local parliament on Thursday and raised the Russian flag.The events occurred after Russian President Vladimir Putin ordered 150,000 Russian troops to begin military exercises in central and western Russia, near the border with Ukraine.
The single currency shrugged off data earlier showing that German retail sales rose 2.5% last month, exceeding expectations for a 1% increase. Retail sales in December were revised to a 2.1% drop from a previously estimated 2.5% decline.A separate report showed that French consumer spending dropped 2.1% in January, compared to expectations for a 0.2% rise. Consumer spending in December was revised up to a 0.2% increase from a previously estimated 0.1% slip.
http://www.investing.com/news/forex-news/forex---eur-usd-holds-steady,-e.z.-inflation-data-ahead-269439
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