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April 19, 2023EUR/USD remains range-bound within a 1.0921 to 1.0989 range but falls to 1.0971 in choppy trade.
- Crude Oil Inventories data from United States will be released today at 14:30 UTC with analysts expecting a decline to -1 million. Potentially significant price fluctuations in the Euro are expected to follow.
Earlier data releases related to Euro-Dollar – Euro Zone Consumer Price Index came out at 6.9%, while a consensus of analysts was expecting 6.9%. Germany ZEW Economic Sentiment Index released yesterday at 09:00 UTC with a figure of 4.1, while the previous figure was 13.
Technical analysis of the Euro before macro data is released:
Coming up for the Euro — Euro Zone ECB Publishes Account of Monetary Policy Meeting scheduled to come out tomorrow at 11:30 UTC. Projections for Germany Producer Price Index are set for a continuation of decline with -0.5% while previous data was -0.3%; data will be released tomorrow at 06:00 UTC.
As the markets get ready for more data to be released — GBP/CAD is up 0.69%. GBP/JPY gained 0.53% and is now trading at 167.48. USD/CAD is up 0.41%.
The currency pair has been trending positively for about a month. As things stand, Euro-Dollar is 0.69% away from a significant high of 1.1048, first set 6 days ago.
