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May 06, 2023A quick look at yesterday: EUR/USD spiked to 1.1051 yesterday and consolidated before initiating a fresh rally to 1.1023. This comes following Thursday's session in which it closed at 1.1018.
On the flip side, highly important Average Hourly Earnings data from United States beat analyst expectations of 0.3% with a reading of 0.5%. United States Non Farm Payrolls beat analyst expectations of 180,000 and the previous reading of 165,000 with new data of 253,000.
Meanwhile, Euro Zone CFTC EUR speculative net positions released yesterday at 20:30 UTC with a figure of 173,500, while the previous figure was 169,400.
A look at other currencies also shows bullish price action as GBP/JPY went up by 0.94% yesterday, and closed at 170.3.
At the same time, EUR/CAD is down to 1.473, losing 176 pips, after ending the previous session around 1.4907. USD/CAD drops 1.25% yesterday and closed at 1.354.
The currency pair has been trending positively for about a month. As things stand, Euro-Dollar is 0.5% away from a significant high of 1.1073, first set 3 days ago.
