The euro climbed against other major currencies on Thursday as better-than-expected gross domestic product data from Germany, France and Italy prompted investors to seek the European currency.
The latest figures from the statistical office Insee revealed that the French economy expanded 0.2 percent quarter-on-quarter in the third quarter, compared to economists forecasts for a zero growth.
German economy expanded for the third straight quarter, with GDP up 0.2 percent sequentially versus economists forecast for a 0.1 percent expansion.
In Italy, gross domestic product decreased 0.2 percent quarter-on-quarter in the third quarter, slower than the 0.5 percent fall economists expected.
In the euro area, gross domestic product slipped to 0.1 percent in the third quarter from a decline of 0.2 percent a quarter ago.
Spain should urgently seek an emergency aid, European Central Bank Governing Council member Luc Coene was quoted as saying by Belgian daily De Standaard today.
Coene, who also heads Belgium's central bank, expressed concern over the Spanish economy as the country's 10-year bond yields have climbed back to around 6 percent in the recent days.
Erasing early Asian session's low, the euro advanced to 1.2774 against the greenback from yesterday's close of 1.2736. If the euro gains further, it may break 1.28 level.
Against the pound, the euro firmed to more than a 2-week high of 0.8067 before paring gains slightly. The euro-pound pair closed Wednesday's deals at 0.8041.
U.K. retail sales volume declined 0.8 percent month-on-month in October, reversing last month's 0.5 percent rise, the Office for National Statistics reported today. It was forecast to fall 0.1 percent in October.
Sales excluding automotive fuel were down 0.7 percent after increasing 0.5 percent a month ago.
The European single currency inched up to 1.2046 against the franc with 1.21 seen as the next upside target level. The pair closed deals at 1.2038 yesterday.
The euro hit 103.73 against the yen, its highest level since November 2. The next resistance level for the euro-yen pair is seen at 104.00. On Thursday, the pair closed trading at 102.22.
The euro has been rallying against the yen as the later declined on expectations of more BOJ easing after Japan's embattled prime minister moved to dissolve parliament and called a snap election next month.
Against the NZ dollar, the euro is worth 1.5740, erasing its Asian session's low of 1.5686. The euro-kiwi pair finished yesterday's deals at 1.5723.
New Zealand's manufacturing activity expanded marginally in October, following three consecutive months of contraction, a survey by Business New Zealand and Bank of New Zealand showed today.
The headline Performance of Manufacturing Index rose to 50.5 in October from 48.5 in September.
The euro climbed to 1.2353 against the Australian unit, its strongest level in 10 days. The euro may seek next resistance level at 1.24.
The U.S. weekly jobless claims for the week ended November 10, the consumer price index for October, the empire manufacturing index for November, the Philadelphia Federal Reserve's manufacturing index for November, weekly crude oil inventories and speeches by a number of Fed officials, including the chairman Ben Bernanke, are expected in the North American session.
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