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May 19, 2023Slightly weaker but mostly flat: EUR/USD is currently trading at 1.0765 as it maintains an active range between 1.0764 and 1.0854.
Highly important Initial Jobless Claims data from United States beat analyst expectations of 254,000 with a reading of 242,000.
While price action maintains a negative bias, United States Existing Home Sales (Apr) came out at 4.28 million, while a consensus of analysts was expecting 4.3 million. United States Philadelphia Fed Manufacturing Index (May) released yesterday at 12:30 UTC with a figure of -10.4, while the previous figure was -31.3.
In the meantime, negative performances are seen in other pairs, after ending yesterday's session at 149.33, EUR/JPY lost 22 pips and is trading around 149.1. After ending yesterday's session at 1.9912, GBP/NZD lost 27 pips and is trading around 1.9884.
Mixed performances are seen by currencies as USD/SGD trades close to 1.3489, with no major change.
Furthermore, Euro Zone ECB President Lagarde speech will be released today at 19:00 UTC. Germany Producer Price Index is projected to outperform its last figure with -0.5%. It previously stood at -1.4%; data will be released today at 06:00 UTC. Euro Zone ECB Economic Bulletin is expected today at 08:00 UTC.
As things stand, the Euro is 2.68% away from a significant high of 1.1073, first set 16 days ago.
