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February 28, 2023After hitting its highest point in 2 months at 1.5768, EUR/AUD dropped by 48 pips and is now trading at 1.572.
New Australia Retail Sales improved upon the previous -3.9% figure while also exceeding analyst expectations with a reading of 1.9%.
On the flip side, Australia Retail Sales beat analyst expectations of 1.5% and the previous reading of -3.9% with new data of 1.9%.
While price action maintains a negative bias, Australia Current Account (Q4) released today at 00:30 UTC with a figure of 14.1 billion, while the previous figure was -2.3 billion. Data for Australia Private Sector Credit published today at 00:30 UTC came out at 0.4%, beating projections of 0.3% and showing improvement over the preceding figure of 0.3%.
In the meantime, negative performances are also seen in other pairs as EUR/USD closed at 1.0595 (down 0.13%).
In the meantime, EUR/CAD trades with no major change, around 1.4382. EUR/JPY moves 0.08% to trade around 144.32.
Some optimism can drawn from the fact that tomorrow at 08:55 UTC data for Germany Unemployment Change will be released, with an expected decline to 9,000 from the preceding figure of -15,000.
Furthermore, Germany Consumer Price Index is expected tomorrow at 12:00 UTC. France Consumer Spending is projected to outperform its last figure with 0.4%. It previously stood at -1.3%; data will be released today at 07:45 UTC. Germany Retail Sales is projected to outperform its last figure with 0.2%. It previously stood at -5.3%; data will be released tomorrow at 07:00 UTC.
Having set a significant low of 1.4289 6 months ago, Euro-Aussie dollar is trading 10.12% higher.
