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April 06, 2023Marginally higher but lacking a clear-cut direction, EUR/USD is trading at 1.0924 after ranging between 1.0889 and 1.0934 today.
United States Initial Jobless Claims didn't cause a noticeable effect even though it falls short expectations with 228,000.
This move comes while some more positive signs for the Euro are out as United States Initial Jobless Claims released earlier showed a marked improvement to 228,000 from the preceding data of 246,000, but fell short of the 200,000 figure forecast by a consensus of market analysts. Highly important Crude Oil Inventories data from United States beat analyst expectations of -2.33 million with a reading of -3.74 million.
At the same time, Germany Industrial Production released today at 06:00 UTC is better than expected at 2% but down from preceding data of 3.7% according to new data.
Elsewhere, other currency pairs are also gaining ground as having closed the previous session at 1.9714, GBP/NZD is up 1.04% today to currently trade at around 1.9919. EUR/NZD rallies 1.32% to trade around 1.7487. EUR/AUD surges 1% to trade around 1.638.
Positive indicators for Euro-Dollar are expected going forward as tomorrow at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 239,000 from the preceding figure of 311,000.
Also worthy of note, Euro Zone CFTC EUR speculative net positions is expected tomorrow at 20:30 UTC. United States Unemployment Rate is expected tomorrow at 12:30 UTC.
The currency pair has been trending positively for about 30 days. After setting a supportive marker at 0.9596 around 6 months ago, the Euro is now trading 13.66% higher.
