EUR/USD holds higher, for first session in four

Euro fluctuated in a narrow upward range during the Asian session to rebound from its second lowest session since March 8, whilst approaching the second consecutive weekly loss against the US dollar, on the threshold of economic developments and data on Friday by the US and the Eurozone economies.

At 4:50 GMT, EUR/USD rose 0.07% to 1.1229, compared to the opening at 1.1225 after the pair reached a high of 1.1235 and a low of 1.1223.

The markets are looking for Germany, the biggest economy in the eurozone, to release its reading of the Retail Sales Index, which may reflect a 1.0% drop from a 3.3% rise in January. The same index may show growth slowing to 2.2% from 2.6%. in addition to The reading of the import price index, which may show a rise of 0.5% vs. 0.2% in January.

Ahead of France's release of the consumer spending reading, which could reflect a slowing of growth to 0.2% versus 1.2% in January, in addition to the release of inflation data and the preliminary reading of the Consumer Price Index, which might show a widening at 0.9% versus zero levels in February.

Leading to Germany's release of the labor market data , which may reflect a contraction of the decline to 10 thousand versus 21 thousand in February's Unemployment Change reading, in addition to Italy's initial reading of the consumer price index, which may show an acceleration in growth rates to 0.3% from 0.2% in February.

Investors are currently looking to the US economy to reveal spending and personal income data, that may show personal spending rising to 0.3% from 0.5% in December, and personal income rising to 0.3% versus a 0.1% decline in December, While the Personal Consumption Expenditures (PCE) may show a stability in growth at 0.2% in January.

As well as, the release of the Chicago PMI, which may reflect a contraction of 61.1 vs. 64.7 in February, and the reveal of housing market data with the release of the New Home Sales Index, which may reflect a 2.1% 625 thousand homes compared to a 6.9% decline for about 607 thousand homes in January.

In conjunction with the revised reading of the University of Michigan consumer confidence index, which may show stability of wideness at 95.8, unchanged from the preliminary reading this month, compared to 97.8 in February, before the expected speech of the member of the FOMC, Randal Quarles, about the macroprudential policy at the Shadow Open Market Committee (SOMC) Spring Meeting, in New York.