Euro steady against dollar ahead of U.S. data

The euro was steady against the U.S. dollar as investors awaited several U.S. and euro zone economic reports later in the day.

This comes after the dollar slid lower yesterday following the decline in consumer confidence in November, recording an 88.7 lower than expectations.

On the other hand, the euro was affected yesterday after releasing the gross domestic product data for Germany during the third quarter, which matched expectations at 0.1%. Investors anticipates important economic data for the euro zone today including consumer confidence for November, in addition to the U.S. jobless claims later in the day.

The dollar is due to gain support against the euro if jobless claims came weak today, reflecting the continued recovery of the U.S. economy during this stage.

The euro stabilized against the dollar around 1.2481 at 8:49 GMT.