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April 04, 2023While yesterday ended at 1.6065, today, EUR/AUD rallied above 1.6265 for the first time in 1 year and gained 188 pips — now trading at 1.6254.
Euro-Aussie dollar upside coincides with further encouraging market factors as data for Australia Retail Sales released yesterday at 01:30 UTC is better than expected with 0.2%, but worse than previous figure of 1.8%.
Meanwhile, Australia Interest Rate released today at 04:30 UTC with a figure of 3.6, while the previous figure was 3.6. Data for Spain Unemployment Change published today at 07:00 UTC came out at -48,800, beating projections of 8,500 and showing improvement over the preceding figure of 2,600.
Elsewhere, other currency pairs are also gaining ground as GBP/CAD gained 0.9% and is currently trading at 1.6815. GBP/USD rallies 0.79% to trade around 1.2518. GBP/NZD is up 0.59%.
Furthermore, the market is looking at Germany Factory Orders projected to come out at 0.3% — worse than previous data of 1%; data will be released tomorrow at 06:00 UTC. Australia AIG Manufacturing Index (Mar) is expected today at 23:00 UTC. Spain Services PMI is expected tomorrow at 07:15 UTC. Euro Zone Composite PMI figure is projected at 54.1. It previously stood at 54.1; data will be released tomorrow at 08:00 UTC.
The currency pair has been trending positively for about a month. After setting a supportive marker at 1.4289 around 7 months ago, Euro-Aussie dollar is now trading 12.43% higher.
