The Euro was lower against the U.S. Dollar on Friday after the release of U.S. data on Federal Budget Balance. EUR/USD was trading at 1.4345, down 1.14% at time of writing. The pair was likely to find support at 1.4323, today’s low, and resistance at 1.4696, Tuesday’s high. Earlier in the day, official data showed that The U.S. federal budget balance fell less-than-expected to a seasonally adjusted -57.6B last month from -40.4B in the preceding month whose figure was revised up from -40.5B. Analysts had expected U.S. federal budget balance to fall to -125.0B last month. Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.33% to hit 0.8837 and EUR/JPY falling 1.22% to hit 115.19.Continues its downfall many hours after Trichet's press conference.The split in Europe around a solution for Greece is just huge and time is running out. In the meantime, signs of a slowdown come from Germany and France. How will the week end? Here's a quick update on technicals, fundamentals and what's going on in the markets.
