Euro varies in trading before the global counterparts

The euro was trading mixed against major currencies in volatile trade on Thursday as investors focused on the developments in the euro amid growing concerns over the political crisis in Greece ..

During the late morning trading, the European euro was steady against the U.S. dollar, with the high euro / dollar rate of 0.04% to hit 1.2932.

The euro remained under pressure after being abandoned Alexis Tsepraz leader's second-largest party in Greece attempts to form a new government on Wednesday Wednesday, giving the leader of the Socialist Party Evangelos Venizelos last chance to try to form a government on Thursday.

And seemed to opportunities on the formation of a weak coalition government after two failed attempts, making new elections within three to four weeks are the most likely outcome, raising new fears that Greece will not have a government in a timely manner to secure the slide coming from international aid next month.

And increased concerns, after the European Central Bank lowered expectations of GDP growth for 2012 to minus 0.2% from minus 0.1%, in its monthly report, published earlier, with the continuation of T downside risks on the economic outlook.

The single currency rose against the pound, but remained close to their lowest level in three years with the rise in EUR / GBP rate of 0.17% to hit 0.8029.

Sterling found some support after official data showed that industrial production in the United Kingdom rose more than expected in March, adding 0.9% after 1.1% decline the previous month. Analysts had expected industrial production to rise by 0.5% in March.

Investors remained cautious ahead of the Bank of England rate decision later in the day.

The euro fell against the Japanese Yen, with EUR / JPY by 0.04% to record 103.00, and remained unchanged against the Swiss franc with the high euro / franc rate of 0.02% to hit 1.2011.

Elsewhere, the trading of the common currency mixed against the Canadian dollar and Australian dollar and New Zealand, with the high Euro / CAD up 0.07% to hit 1.2972 and EUR / Australian by 0.34% to hit 1.2822 and EUR / New Zealand by 0.13% to hit 1.6467.

The Australian dollar rose earlier after official data showed that the unemployment rate in Australia fell unexpectedly to 4.9% from 5.2% in March. Analysts had expected the unemployment rate to rise to 5.3% in April.

The growth-related goods remained under pressure, and as data showed earlier that China's exports and imports in April rose less than analysts' expectations.

In a report, said General Administration of Customs said China's trade surplus the country rose to 18.42 billion dollars in April from 5.35 billion the previous month.

Later in the day the U.S. will publish official data on trade balance, followed by government reports on jobless claims and rising import prices. It will also Federal Reserve Chairman Ben Bernanke to speak as well.