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February 26, 2023
A quick look at Friday: the Euro dipped as low as 1.0547 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session (1.0593) with EUR/USD closing the day at 1.0546.
Euro-Dollar's value drop coincided with the fact that after ending Friday's session at 0.681, AUD/USD lost 83 pips and is trading around 0.6726.
Positive performances can be seen by looking at other currencies as USD/JPY surges 1.37% Friday and closed at 134.65. USD/SGD added 0.63% and closed around 1.3421 Friday.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%, having previously been at -0.2%. The figure will be published tomorrow at 13:30 UTC.
In addition, United States Pending Home Sales expected to decline to 1% while its preceding data was 2.5%, data will be available tomorrow at 15:00 UTC.
Furthermore, Euro Zone ECB's Lane speech scheduled to come out tomorrow at 17:00 UTC.
The Euro is now trading 10.45% away from its significant low of 0.9596 first tested 4 months ago.
