Euro hovers near four-week trough before growth data

Euro fell in European trade for the fifth straight session against dollar to near four-week lows, on track for the second weekly loss in three after the ECB asserted its commitment to combat the fallout of the coronavirus second wave. 

EUR/USD fell 0.1% to 1.1664, after closing down 0.6% yesterday, the fourth loss in a row, marking four-week lows at 1.1649.

Euro closed down 0.6% yesterday against dollar, marking four-week lows at 1.1649 after Germany and France imposed new quarantine measures. 

The European Central Bank maintained rates unchanged on Thursday but committed to combating the economic fallout of the second Covid 19 wave. 

The common currency is down 1.6% so far this week on risk aversion with Europe's recovery in peril over the second wave. 

Later today, Europe's GDP growth is estimated at 9.5% in the third quarter after a 11.8% contraction in the second quarter. 

Europe's consumer prices are expected down 0.3% in October, while core prices are expected up 0.2%.