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May 26, 2023EUR/AUD is rallying again to 1.65 (up 21 pips), after erasing earlier gains.
Australia Retail Sales data will be released today at 01:30 UTC, with an expected decline to 0.3%.
Euro-Aussie dollar upside coincides with further encouraging market factors as highly important GDP data from Germany beat analyst expectations of -0.1 with a reading of -0.3.
At the same time, GDP in Germany fell short of market expectations (0.2%) with a reading of -0.2%, continuing the decline from the previous figure of 0.3%. Germany GfK Consumer Climate (Jun) released yesterday at 06:00 UTC with a figure of -24.2, while the previous figure was -25.8.
While Euro-Aussie dollar is up today, these currencies are lagging behind: EUR/JPY closed at 150 (down 0.14%). USD/JPY closed at 139.85 (down 0.14%). GBP/JPY closed at 172.33 (down 0.12%).
Furthermore, the market is looking at today at 01:30 UTC data for Australia Retail Sales will be released, with an expected decline to 0.3% from the preceding figure of 0.4%.
Also worthy of note, Germany Buba Mauderer speech scheduled to come out today at 07:05 UTC. Australia CFTC AUD speculative net positions is scheduled for today at 20:30 UTC.
The past 3 months have been positive for Euro-Aussie dollar as it added 5.28% compared to its 3-month low of 1.4289.
