Euro touches five-week trough against dollar

Euro fell against the dollar in American trade to early March lows, following earlier data from the euro zone and the US, the world's largest economy. 

As of 03:17 GMT, EUR/USD fell 0.37% to 1.2232 from the opening of 1.2278, with a five-month low at 1.2221, and a session-high at 1.2290. 

Earlier German data showed factory orders rose 0.3%, compared to a 3.5% drop in January, and missing expectations of a 1.6% rise, while Spanish services PMI slowed down to 56.2 as expected from 57.3 in February. 

Italian services PMI slowed down to 52.6 from 55 in February, missing expectations of 53.9, while French services PMI widened to 57.4 from 57.4 in February, beating forecasts of 56.8. 

The final services PMI reading in Germany slowed down to 53.9 from 55.3, while the same index for the whole zone also slowed down to 54.9 from 56.2 in February, missing expectations of 55. 

Retail sales for the euro zone rose 0.1% in February, compared to a 0.3% dip in January, and missing expectations of a 0.6% rise, while producer prices slowed down to 0.1% from 0.4% in January, beating expectations of no-change. 

Otherwise, earlier US data showed unemployment claims in the week ending March 31 rose 24 thousand to 242 thousand from 218K, compared to expectations of 225K, while continuing claims in the week ending March 24 fell 64 thousand to 1.808 million from 1.872, beating expectations of 1.843 million. 

The trade deficit widened to $57.6 billion from $56.7 in January, missing expectations of $56.9 billion, while Federal Reserve Bank of Atlanta President Raphael Bostic is due to speak about financial literacy at the University of South Florida, in Sarasota.