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April 06, 2023While yesterday ended at 1.6218, today, EUR/AUD rallied above 1.6392 for the first time in 1 year and gained 166 pips — now trading at 1.6384.
At the same time, Germany Industrial Production released today at 06:00 UTC is better than expected at 2% but down from preceding data of 3.7% according to new data. Australia Trade Balance (Feb) came out at 13.87 billion, while a consensus of analysts was expecting 11.1 billion. Euro Zone Composite PMI released yesterday at 08:00 UTC with a figure of 53.7, while the previous figure was 52.
Other currencies are also rising as GBP/NZD is up 1%. Having closed the previous session at 1.726, EUR/NZD is up 1.33% today to currently trade at around 1.7489.
While Euro-Aussie dollar is up today, these currencies are lagging behind: after ending yesterday's session at 0.6319, NZD/USD lost 74 pips and is trading around 0.6245.
The market is looking forward to the release of new data: Euro Zone CFTC EUR speculative net positions will be released tomorrow at 20:30 UTC. Australia CFTC AUD speculative net positions is expected tomorrow at 20:30 UTC.
The currency pair has been trending positively for about a month. As things stand, Euro-Aussie dollar is 13.5% away from a significant low of 1.4289 first set 7 months ago.
