Euro settles higher against dollar in American trade

Euro tilted higher in American trade against the dollar, following earlier data from the euro zone and the US, the world's largest economy, and and ahead of a speech by Federal Reserve Bank of Cleveland President Loretta Mester.

As of 02:51 GMT, EUR/USD rose 0.02% to 1.2376 from the opening of 1.2374, with a session-high at 1.2400, and a low at 1.2355. 

Earlier euro zone data showed the current account surplus down to 35.1 billion euros in March from 39 billion, revised from 37.6 billion in February, and beating expectations of 32.3B. 

German Chancellor Angela Merkel will meet French President Manuel Emacron to discuss EU economic reforms, with Merkel facing pressure from the her conservative party to refuse any reforms that would impact German taxpayers. 

Federal Reserve Governor Lael Brainard spoke earlier today about regulatory reform at the Global Finance Forum, in Washington DC, where she noted that inflation rates remain stable with no sign of imbalance. 

Brainard cautioned from a new economic stage where assets and financial leverages rise, before earlier US data showed unemployment claims fell 1 thousand to 232 thousand from 233 thousand, above expectations of 230K. 

The Philly Manufacturing Index rose to 23.2 from 22.3 in March, beating expectations of 20.8, while Federal Reserve Governor Randal Quarles testified on supervision and regulation before the Senate Banking Committee, in Washington D, where he said cryptocurrencies don't represent threats to financial stability, while calling on small banks to come up with new rules to financial liquidity.