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April 11, 2023While yesterday ended at 1.635, today, EUR/AUD rallied above 1.6411 for the first time in 1 year and gained 53 pips — now trading at 1.6403.
At the same time, fresh Retail Sales data released in Euro Zone matched analyst forecasts with a reading of -0.8% — a backwards step from its previous reading of 0.8%. Australia NAB Business Confidence (Mar) came out at -1, while a consensus of analysts was expecting -2. Australia Westpac Consumer Sentiment (Apr) released today at 00:30 UTC with a figure of 9.4, while the previous figure was zero.
A look at other currencies also shows bullish price action as GBP/NZD rallies 0.84% to trade around 2.0062. EUR/NZD is up 0.99%.
While Euro-Aussie dollar is up today, these currencies are lagging behind: USD/CHF is trading around 0.9033 (down 58 pips).
Elsewhere, Australia RBA Assist Gov Bullock speech set for tomorrow at 04:45 UTC. Euro Zone ECB's De Guindos speech scheduled to come out tomorrow at 12:30 UTC.
The currency pair has been trending positively for about a month. As things stand, Euro-Aussie dollar is 14.42% away from a significant low of 1.4289 first set 7 months ago.
