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May 10, 2023EUR/USD posts light gains on a low-volatility day, ranging between 1.0945 – 1.1008 and is now at 1.0974.
New United States Crude Oil Inventories improved upon the previous -1.28 million figure while also exceeding analyst expectations with a reading of 2.95 million.
Nevertheless, data for United States Crude Oil Inventories published today at 14:30 UTC came out at 2.95 million, beating projections of -917,000 and showing improvement over the preceding figure of -1.28 million.
At the same time, Germany Consumer Price Index released today at 06:00 UTC with a figure of 0.4%, while the previous figure was 0.8%. United States Core Consumer Prices came out at 0.4%, while a consensus of analysts was expecting 0.4%.
While Euro-Dollar is up today, these currencies are lagging behind: USD/JPY is down to 134.22, losing 96 pips, after closing at 135.18 in the preceding trading session. EUR/JPY falls 0.64% to trade around 147.29. After ending yesterday's session at 170.58, GBP/JPY lost 121 pips and is trading around 169.37.
Furthermore, the market is looking at Germany Buba Mauderer speech is expected tomorrow at 07:00 UTC. Euro Zone ECB's Schnabel speech set for tomorrow at 12:00 UTC. Germany Buba Balz speech is scheduled tomorrow at 16:00 UTC.
The currency pair has been trending positively for about 2 months. Having set a peak of 1.1073 around 7 days ago, Euro-Dollar is now trading 0.96% below this level.
