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April 25, 2023EUR/AUD rallied to 1.6588, hitting its highest point in 2 years. It later lost 24 pips and is now trading at 1.6563.
Australia Consumer Price Index is next tomorrow at 01:30 UTC.
Euro-Aussie dollar upside coincides with further encouraging market factors as Germany Business Climate Index released earlier showed a marked improvement to 93.6 from the preceding data of 93.2, but fell short of the 94 figure forecast by a consensus of market analysts.
At the same time, Germany Current Assessment (Apr) released yesterday at 08:00 UTC with a figure of 95, while the previous figure was 95.4. Data for Germany Business Expectations published yesterday at 08:00 UTC came out at 92.2, beating projections of 91.5 and showing improvement over the preceding figure of 91.
Meanwhile, after ending yesterday's session at 148.17, EUR/JPY lost 147 pips and is trading around 146.7. AUD/USD is down 70 pips from the beginning of the session and now trades around 0.6626. After ending yesterday's session at 167.49, GBP/JPY lost 159 pips and is trading around 165.89.
Also worthy of note, Australia Consumer Price Index figure is projected at 1.3. It previously stood at 1.9; data will be released tomorrow at 01:30 UTC. Australia Trimmed Mean CPI (QoQ) (Q1) will be released tomorrow at 01:30 UTC. Australia Consumer Price Index figure is projected at 6.9%. It previously stood at 7.8%; data will be released tomorrow at 01:30 UTC. Germany GfK Consumer Climate (May) is scheduled for tomorrow at 06:00 UTC.
The currency pair has been trending positively for about 2 months. The past 3 months have been positive for Euro-Aussie dollar as it added 6.79% compared to its 3-month low of 1.4289.
