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February 24, 2023
EUR/USD is grinding lower from 1.06 to 1.0553, shedding 46 pips (0.43%) today.
Euro-Dollar is currently trading at 1.0553 following the release of Core PCE Price Index (MoM) (Jan) data from the United States.
Germany GDP published today at 06:00 UTC came out at -0.4, falling short of the -0.2 projections and continuing its decline from the previous 0.5 figure.
Amid the market gloom, Euro Zone Consumer Price Index released yesterday at 10:00 UTC with a figure of 8.6%, while the previous figure was 9.2%. United States Core PCE Price Index (MoM) (Jan) came out at 0.6, while a consensus of analysts was expecting 0.4.
In the meantime, negative performances are also seen in other pairs as AUD/USD closed at 0.6736 (down 1.09%).
Though Euro-Dollar has been dropping, other pairs have been performing better: USD/JPY is up 0.89%. USD/SGD gained 0.45% and is now trading at 1.348.
Furthermore, Euro Zone CFTC EUR speculative net positions scheduled to come out today at 20:30 UTC. United States New Home Sales (Jan) is scheduled for today at 15:00 UTC.
After setting a supportive marker at 0.9596 around 4 months ago, Euro-Dollar is now trading 10.45% above this level.
