The euro appreciated vis-Ã -vis the U.S. dollar today as the single currency tested offers around the US$ 1.3085 level and was supported around the US$ 1.2980 level. The common currency gave back earlier gains after the release of U.S. economic data that saw weekly initial jobless claims climb 27,000 to 613,000 while continuing jobless claims were up 93,000 to 6.137 million, the highest level on record. Some economists remain cautiously optimistic about the prospects for the U.S. economy despite the mixed economic data. Other data released in the U.S. today saw March existing home sales fell 3.0% to an annualized 4.57 million units and February€™s tally was downwardly revised. In eurozone news, EMU-16 February industrial new orders notched their largest annual decline on record, off 34.5% y/y and 0.6% m/m. These data evidence the acute recession in the eurozone and breakdown in global trade. Other data saw the February current account deficit narrow to -‚¬8.1 billion from a revised -‚¬12.3 billion in January. Other data saw EMU-16 April manufacturing improve to 36.7 from 33.9 and Germany€™s PMI established a five-month high and French PMI also improved in both the manufacturing and services sectors. Euro bids are cited around the US$ 1.2765 level.