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March 07, 2023
While yesterday ended at 1.5872, today, EUR/AUD rallied above 1.6006 for the first time in 1 year and gained 131 pips — now trading at 1.6003.
Uptick comes while some more positive signs for Euro-Aussie dollar are out as new Retail Sales data from Australia matched market expectations with a reading of 1.9% — a positive step in contrast to previous data of -4% from last month.
Meanwhile, Australia Interest Rate came out at 3.6, while a consensus of analysts was expecting 3.6. Data for Germany Factory Orders released today at 07:00 UTC is better than expected with 1%, but worse than previous figure of 3.4%.
Elsewhere, other currency pairs are also gaining ground as USD/CHF is up 0.27%.
Meanwhile, AUD/USD falls 1.04% to trade around 0.6665. GBP/USD is trading around 1.1993 (down 33 pips).
The market is looking forward to the release of new data: Euro Zone ECB President Lagarde speech is scheduled for tomorrow at 10:00 UTC. Germany Retail Sales is projected to outperform its last figure with 2.4%, having previously been at -5.3%. The figure will be published tomorrow at 07:00 UTC. Germany Industrial Production is projected to outperform its last figure with 1.4%. It previously stood at -3.1%; data will be released tomorrow at 07:00 UTC. Euro Zone GDP projected to decline to 1.9% while previous data was 2.3%; data will be released tomorrow at 10:00 UTC.
Having set a significant low of 1.4289 6 months ago, Euro-Aussie dollar is trading 11.08% higher.
