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February 28, 2023After dipping down to 1.0536, EUR/USD regains earlier losses and reaches 1.0616.
United States Consumer Confidence data will be released today at 15:00 UTC, with an expected improvement to 108.5 (previous figure was 107.1).
At the same time, Spain HICP (YoY) (Feb) released today at 08:00 UTC with a figure of 6.1, while the previous figure was 5.9. Spain Consumer Price Index came out at 6.1%, while a consensus of analysts was expecting 5.9%. France Consumer Spending beat analyst expectations of 0.4% and the previous reading of -1.6% with new data of 1.5%.
A look at other currencies also shows bullish price action as GBP/NZD gained 0.62% and is currently trading at 1.9664. GBP/JPY rallies 0.63% to trade around 165.2. EUR/JPY gained 0.46% and is now trading at 145.11.
Also worthy of note, Germany Unemployment Change projected to come out at 9,000 — worse than previous data of -15,000; data will be released tomorrow at 08:55 UTC.
Furthermore, the market is looking at Germany Consumer Price Index is expected tomorrow at 12:00 UTC. Germany Retail Sales is projected to outperform its last figure with 0.2%. It previously stood at -5.3%; data will be released tomorrow at 07:00 UTC.
As things stand, Euro-Dollar is 10.55% away from a significant low of 0.9596 first set 5 months ago.
