Forex - EUR/USD steady, focus on upcoming data

The euro was steady against the U.S. dollar on Friday, trading near three-week highs despite disappointing German data, as markets eyed the release of additional economic reports later in the day.

EUR/USD hit 1.3032 during late Asian trade, the session low; the pair subsequently consolidated at 1.3040, easing 0.05%. 

The pair was likely to find support at 1.2934, Thursday's low and resistance at 1.3159, the high of May 3. 

Official data earlier showed that German retail sales fell 0.4% in April, disappointing expectations for a 0.2% rise, after a 0.1% decline the previous month. 

Meanwhile, the greenback remained supported after downbeat U.S. data dampened expectations for the Federal Reserve to scale down its stimulus program in the near future. 

On Thursday, the Department of Labor said the number of people who filed for unemployment assistance rose to a seasonally adjusted 354,000 last week, compared to expectations for a decline to 340,000.

Meanwhile, the Commerce Department said U.S. first quarter gross domestic product was revised down to 2.4% from a preliminary reading of 2.5%. Analysts had expected an unchanged reading. 

A separate report by the National Association of Realtors said that its pending home sales index rose 0.3% to hit the highest level since April 2010 last month, but fell short of expectations for a 1.1% increase. 

The euro was also steady against the pound with EUR/GBP inching 0.03% higher, to hit 0.8566. 

Later in the day, the euro zone was to publish preliminary data on consumer price inflation as well as data on the unemployment rate.

The U.S. was to release revised data on consumer sentiment from the University of Michigan, as well as data on personal income and expenditure and a report on manufacturing activity in Chicago.

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