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April 27, 2023
Slightly weaker but mostly flat: EUR/USD is currently trading at 1.1048 as it maintains an active range between 1.0972 and 1.1095.
GDP data from United States will be released today at 12:30 UTC with analysts expecting a decline to two. Potentially significant price fluctuations in the Euro are expected to follow.
United States Core Durable Goods Orders beat analyst expectations of -0.2% and the previous reading of -0.3% with new data of 0.3%.
On the flip side, Crude Oil Inventories in United States fell short of market expectations (-1.49 million) with a reading of -5 million, continuing the decline from the previous figure of -4.58 million.
Amid the market gloom, new Jobseekers Total data from France matched market expectations with a reading of 2.79 million — a positive step in contrast to previous data of 2.8 million from last month.
In the meantime, negative performances are seen in other pairs, after ending yesterday's session at 2.0367, GBP/NZD lost 33 pips and is trading around 2.0333.
Positive performances can be seen by looking at other currencies as NZD/USD climbs 0.23% to trade around 0.6133. EUR/JPY gained 0.13% and is currently trading at 147.68.
Looking ahead, ongoing depreciation may be prolonged as Germany GDP projected to decline to 0.3 while previous data was 0.9; data will be released tomorrow at 06:00 UTC.
Some optimism can drawn from the fact that Germany Unemployment Change is projected to outperform its last figure with 10,000, having previously been at 16,000. The figure will be published tomorrow at 07:55 UTC.
Furthermore, Germany GDP is projected to outperform its last figure with 0.8%. It previously stood at 0.3%; data will be released tomorrow at 08:00 UTC.
The currency pair has been trending positively for about a month. Having set a significant low of 0.9596 6 months ago, Euro-Dollar is trading 15.14% higher.
