The euro climbed against the other major currencies in early European deals on Thursday, on optimism that Greece is getting closer for a deal with its creditors, which would help Athens to secure funding to keep its afloat.

Greek government and the Brussels group of its official creditors had started procedures for drafting a staff-level agreement, indicating a breakthrough in negotiations to unlock €7.2 billion bailout amount to Greece.

Greek Prime Minister Alexis Tsipras said his government was in the final stretches of deal with its European and International Monetary Fund lenders.

Meanwhile, German Finance Minister Wolfgang Schaeuble poured cold water on hopes of a swift deal. European Commission Vice President Valdis Dombrovskis also played down hopes of a resolution soon.

Data from Destatis showed that Germany's import prices continued to fall in April but at a slower than expected pace.

Import prices fell 0.6 percent year-on-year in April, slower than the expected decrease of 0.7 percent and 1.4 percent decline seen in March.

The currency was trading higher against its major rivals, except the franc, in the Asian session.

The single currency hit a 2-day high of 1.0947 against the greenback and a 6-day high of 0.7117 against the pound, compared to Wednesday's closing values of 1.0902 and 0.7097, respectively. The next possible resistance for the euro is seen around 1.12 against the greenback and 0.725 against the pound.

The euro firmed to a 9-day high of 135.48 against the Japanese yen and has been steady thereafter. The euro is seen finding resistance around the 136.00 area. At yesterday's close, the pair was valued at 134.77.

Data from the Ministry of Economy, Trade and Industry showed that Japan's retail sales climbed 5.0 percent on year in April, coming in at 11.562 trillion yen.

That was shy of forecasts for an increase of 5.5 percent following the 9.7 percent contraction in March.

The euro spiked up to a 6-day high of 1.3625 against the loonie. At yesterday's close, the euro was trading at 1.3573 against the loonie. If the euro extends its uptrend, it is likely to find resistance around the 1.38 area.

The 19-nation currency rallied to 1.4241 against the aussie, its strongest since May 18. On the upside, 1.44 is possibly seen as the next upside target level for the euro. The pair was trading at 1.4106 when it ended yesterday's trading.

Data from the Australian Bureau of Statistics showed that Australia's private capital expenditure fell a seasonally adjusted 4.4 percent on quarter in the first quarter of 2015, coming in at A$35.895 billion.

That missed expectations for a decline of 2.2 percent, which would have been unchanged from the previous three months.

On the flip side, the euro pared its early gains against the franc, trading at 1.0340. This may be compared to an early high of 1.0361. The pair was valued at 1.0351 at yesterday's close.

Looking ahead, the second estimate of first quarter U.K. GDP, U.K. index of services for March and Eurozone business climate index for May are set to be published shortly.

In the New York session, Canada industrial product and raw material price indices for April, U.S. weekly jobless claims for the week ended Mar 23 and U.S. pending home sales data for April are slated for release.

At 7:00 am ET, ECB board member Yves Mersch is expected to speak at the Bulgarian Authorities 2015 IMF/World Bank Constituency Meetings in Sofia, Bulgaria.

At 2:45 pm ET, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota will deliver a speech on monetary policy before a Community Leader Lunch hosted by the Helena Branch of the Federal Reserve Bank of Minneapolis in Helena, Montana.

Euro vs US Dollar (FX:EURUSD)
Graphique Historique de la Devise
De Fév 2024 à Mar 2024 Plus de graphiques de la Bourse Euro vs US Dollar
Euro vs US Dollar (FX:EURUSD)
Graphique Historique de la Devise
De Mar 2023 à Mar 2024 Plus de graphiques de la Bourse Euro vs US Dollar