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March 09, 2023Tentatively higher from an earlier low of 1.0542, EUR/USD is up to 1.0577 today, adding 31 pips, or 0.29%, to yesterday's closing price of 1.0546.
United States's Initial Jobless Claims new data released of 211,000 below its previous figure.
Uptick comes while some more positive signs for the Euro are out as United States Initial Jobless Claims published today at 13:30 UTC came out at 211,000, falling short of the 195,000 projections and continuing its decline from the previous 190,000 figure. Crude Oil Inventories in United States fell short of market expectations (395,000) with a reading of -1.69 million, continuing the decline from the previous figure of 1.17 million.
Meanwhile, France Non-Farm Payrolls (QoQ) (Q4) released today at 06:30 UTC with a figure of 0.2, while the previous figure was 0.4.
A look at other currencies also shows bullish price action as GBP/NZD leaps up 0.74% to trade around 1.9513. GBP/CAD rallies 0.79% to trade around 1.6463.
Meanwhile, USD/JPY is down to 136.14, losing 113 pips, after closing at 137.27 in the preceding trading session.
Furthermore, the market is looking at Germany Consumer Price Index figure is projected at 8.7%. It previously stood at 8.7%; data will be released tomorrow at 07:00 UTC. Euro Zone ECB President Lagarde speech is scheduled for tomorrow at 15:00 UTC. Germany Consumer Price Index figure is projected at 0.8%. It previously stood at 0.8%; data will be released tomorrow at 07:00 UTC.
The currency pair has been trending lower for about a month. As things stand, Euro-Dollar is 9.9% away from a significant low of 0.9596 first set 5 months ago.
