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June 08, 2023EUR/AUD posts light gains on a low-volatility day, ranging between 1.5975 – 1.6241 and is now at 1.6086.
Nevertheless, highly important GDP data from Australia beat analyst expectations of 0.3 with a reading of 0.2.
At the same time, Australia Trade Balance (Apr) released today at 01:30 UTC with a figure of 11.16 billion, while the previous figure was 14.82 billion. Germany Industrial Production released earlier showed a marked improvement to 0.3% from the preceding data of -2.1%, but fell short of the 0.6% figure forecast by a consensus of market analysts.
Other currencies are also rising as EUR/USD rises 0.15% to trade around 1.0717.
At the same time, USD/JPY is down 32 pips from the beginning of the session and now trades around 139.74. EUR/JPY is down to 149.71, losing 15 pips, after closing at 149.86 in the preceding trading session.
Elsewhere, Euro Zone GDP projected to decline to zero while previous data was 0.1; data will be released today at 09:00 UTC. Euro Zone GDP expected to decline to 1.2% while its preceding data was 1.8%, data will be available today at 09:00 UTC. France Non-Farm Payrolls (QoQ) (Q1) scheduled to come out today at 05:30 UTC.
As things stand, Euro-Aussie dollar is 3.79% away from a significant high of 1.6707, first set a month ago.
