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June 22, 2023After hitting its highest point in 6 weeks at 1.1013, EUR/USD dropped by 56 pips and is now trading at 1.0957.
Germany Manufacturing PMI is next tomorrow at 07:30 UTC.
Nonetheless, encouraging indicators for the Euro published earlier when highly important Crude Oil Inventories data from United States beat analyst expectations of 1.87 million with a reading of -3.83 million. New United States Initial Jobless Claims data fell short of the 260,000 projected by analysts with a reading of 264,000 while failing to improve upon the previous reading from last month (264,000).
Amid the market gloom, United States Existing Home Sales (May) released today at 14:00 UTC with a figure of 4.3 million, while the previous figure was 4.29 million.
Mixed performances are seen by currencies as EUR/JPY trades with no major change, around 156.63. EUR/AUD trades close to 1.62, with no major change. USD/CHF trades around 0.895, with no major change.
Furthermore, Spain GDP is projected to outperform its last figure with 0.5, having previously been at 0.2. The figure will be published tomorrow at 07:00 UTC. France Manufacturing PMI is expected tomorrow at 07:15 UTC. Euro Zone Composite PMI is expected tomorrow at 08:00 UTC. Euro Zone CFTC EUR speculative net positions is expected tomorrow at 20:30 UTC.
As things stand, Euro-Dollar is 14.2% away from a significant low of 0.9596 first set 8 months ago.
